Tabuk Agriculture Development Co. (TADCO) appointed, on March 26, Wasatah Capital as financial advisor for its prospective capital hike through a rights issue.
The company said in a statement to Tadawul that it will disclose later the date of submitting the file of capital increase to the Capital Market Authority (CMA), as well as further developments.
In early February, TADCO’s board of directors recommended raising capital through SAR 100 million rights issue, to restructure the company’s capital, finance future plans and expansion, Argaam reported.
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