Logo of TADCO
The Securities Depository Center Co. (Edaa) deposits today, April 11, 2021, Tabuk Agricultural Development Co.’s (TADCO) tradable rights into the accounts of eligible securities’ holders.
TADCO’s shareholders approved the board of directors’ recommendation to increase the company’s capital from SAR 241.77 million to SAR 391.77 million through a SAR 150 million rights issue, during the extraordinary general meeting held on April 6, Argaam reported.
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Rights Issue |
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Number of shares |
15 mln |
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Rights issue price |
SAR 10/share |
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Rights 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 (planting wheat seeds and fruits, operation and management of the agricultural process, including maintenance of equipment deployed for planting, harvesting, irrigation and transporting of crops). - To repay debts and loans of the company and to acquire income-generating real estate business. |
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