Tabuk Agriculture Development Company launched its rights issue on Monday, which is set to last until Jan. 22, 2015.
Tabuk Agriculture plans to raise its capital from SAR 200 million to SAR 450 million through the issuance of 25 million shares at SAR 10 per share for registered shareholders.
The eligibility ratio is 1.25 rights for each shareholder, that holds at least one share and is registered in the company’s registry at the end of the extraordinary general assembly meeting approving the company’s capital raise.
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Tabuk Agriculture’s Price Limits |
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SAR 18.33 |
Closing price per share |
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± 10% |
Share’s price fluctuation ratio |
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± SAR 1.80 (16.45-20.15) |
Daily price limit per share |
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-- |
Right closing price |
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SAR 10 |
Issuance price |
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SAR 8.33 |
Indicated right value at closing |
The company said that the proceeds of SAR 450 million will be used to finance its investments inside and outside the kingdom.
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Capital Raise Details |
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SAR 200 mln |
Current capital |
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20 mln shares |
Number of shares |
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125% |
Capital raise percentage |
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SAR 450 mln |
New capital |
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Rights Issue Details |
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25 mln shares |
Number of right shares |
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SAR 10 |
Issuance price per share |
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SAR 250 mln |
Issuance value |
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January 06, 2015 |
Record date |
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Use of proceeds |
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Additional Information |
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Falcom |
Financial advisor, lead manager and lead underwriter |
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Falcom- NCB- RIBL- Saudi Fransi- Arab National- Al Rajhi- SAMBA |
Receiving Banks |
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