The Saudi Exchange (Tadawul) announced today, Nov. 8, that the subscription period and tradable rights trading for National Agricultural Development Co. (NADEC) will start tomorrow, Nov. 9.
The rights trading will end on Nov. 16, while the subscription process will close on Nov. 21.
NADEC shareholders approved a capital increase via a SAR 2 billion rights issue, during the extraordinary general meeting (EGM) held on Nov. 5, according to Argaam's data.
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Capital Increase Details |
|
|
Current Capital |
SAR 1.01 bln |
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No. of Shares |
101.64 mln |
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New Capital |
SAR 3.01 bln |
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No. of Shares |
301.64 mln |
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Percentage of Increase |
196.77% (1.9677 shares for every existing share) |
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Method |
Issue of 200 mln shares |
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Reason |
To fulfill strategic and operating plans; Support future activities |
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Record Date |
Nov. 5, 2023, for shareholders of record and those registered with Edaa on the second trading day following the EGM |
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