Edaa deposits TADCO’s tradable rights today

11/04/2021 Argaam

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.

 

Rights Issue

Number of shares

15 mln

Rights issue price

SAR 10/share

Rights issue size

SAR 150 mln

Start of shares subscription and trading period

April 12, 2021

End of trading period

April 19, 2021

End of subscription period

April 22, 2021

Record date

April 6, 2021

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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