Logo of TADCO
Tabuk Agricultural Development Co.’s (TADCO) rights trading period ends today, April 19, 2021.
Rights trading started on April 12, to increase the company’s capital from SAR 241.77 million to SAR 391.77 million, through a rights issue of 15 million shares at SAR 10 per share.
Rights issue subscription period, which also started on April 12, will end on April 22, 2021.
Rights holders are entitled to subscribe to the new shares partially or fully pro rata. The remaining shares will be reoffered to institutional investors.
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Key Figures of Capital Increase |
|
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Current capital |
SAR 241.77 mln |
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Number of shares |
24.17 mln |
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Increase (%) |
62.04% (0.62 right for every existing share) |
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New capital |
SAR 391.77 mln |
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New shares |
39.17 mln |
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Rights Issue Details |
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Number of shares |
15 mln |
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Issue price |
SAR 10/share |
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Issue size |
SAR 150 mln |
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Start of shares subscription and trading period |
April 12, 2021 |
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End of trading period |
April 19, 2021 |
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End of subscription period |
April 22, 2021 |
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Record date |
April 6, 2021 |
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Use of proceeds |
- To spend on operating and agricultural plan. (The agricultural plan includes planting wheat and fruits seeds. Operating plan consists of managing the agricultural process, including maintenance of equipment deployed for planting, harvest, irrigation and transport of crops.) - To repay debts and loans of the company and to acquire income-generating real estate business. |
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