Tabuk Agricultural Development Co. (TADCO) said the rights issue remaining shares were 596.8% oversubscribed, according to a bourse filing.
TADCO’s rights issue was 82.06% subscribed, as subscribers injected SAR 123.1 million in 12.31 million shares.
The subscription period started on April 12, 2021, 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, Argaam reported.
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Rights Issue Details |
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Number of rights issue shares |
15 mln shares |
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Number of remaining shares |
2.69 mln |
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Date of remaining shares offering |
April 27-28, 2021 |
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Number of subscribed shares |
2.69 mln |
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Coverage ratio |
596.8% |
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Total proceeds |
SAR 61.72 mln |
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Average price |
SAR 22.94 per share |
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Net sale fractions |
SAR 34.80 mln |
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Date of depositing shares in eligible accounts |
May 6, 2021 |
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