Tabuk Agricultural Development Co.'s (TADCO) logo

Tabuk Agricultural Development Co.’s (TADCO) rights issue shares were 82.06% subscribed, as subscribers injected SAR 123.1 million in 12.31 million shares, the company said in a bourse filing today, April 25, 2021.

 

Rights Issue Details

Number of rights issue shares

15 mln shares

Number of subscribed shares

12.31 mln

Subscription value

SAR 123.10 mln

Coverage ratio (%)

82.06%

Number of remaining shares

2.69 mln

Period of offering remaining shares

April 27-28, 2021

 

The rump shares will be offered to a number of institutional investors, provided that those institutions submit purchase offers.

 

The remaining 2.69 million shares will be offered for subscription will start from 10 am on April 27, until 5 pm on April 28, 2021.

 

The subscription period for the rights issue started on April 12 and ended on April 22, 2021. The rights issue aimed to increase the company’s capital from SAR 241.77 million to SAR 391.77 million through a rights issue of 15 million shares at SAR 10 per share.

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