Logo of National Agricultural Development Co. (NADEC)
National Agricultural Development Co. (NADEC) announced that the rump offering of its rights issue was 542.36% oversubscribed, according to a statement to Tadawul.
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Offering Details |
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Number of Shares Sold |
38.53 mln |
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Total Rump Offering Proceeds |
SAR 758.05 mln |
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Coverage Ratio (%) |
542.36% |
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Average Price/Share Sold |
SAR 19.67 each |
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Net Compensation for Rights Issue & Fraction Shareholders |
SAR 372.73 mln |
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Date of Depositing Shares into Shareholders Accounts |
Dec. 4, 2023 |
Subscription to the rights issue ended on Nov. 24, according to Argaam's data.
During the subscription period, which began on Nov. 9, the company offered 200 million shares at SAR 10 each, totaling SAR 2 billion, to increase capital from SAR 1.01 billion to SAR 3.01 billion.
The subscription coverage reached 80.73% of total offered shares, with 161.47 million out of 200 million new shares subscribed at SAR 1.61 billion.
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