The National Agricultural Development Company (NADEC) announces the results of the rights issues trading and new share subscription, as well as the details of the rump offering
| Element List | Explanation |
|---|---|
| Introduction | The National Agricultural Development Company (NADEC) (the “Company”) announces the results of the rights issues trading and new share subscription, as well as the details of the rump offering. |
| Total Number of Subscribed Shares out of the total Number of New Offered Shares | 161,468,540 shares were subscribed from the 200,000,000 new shares |
| Value of the Subscribed Shares | SAR 1,614,685,400 |
| Coverage Percentage out of Total New Offered Shares (%) | 80.73 % |
| Remaining Offering Mechanism | Rump shares will be offered to a number of institutional investors (the “Institutional Investors”) who will submit purchase offers for the rump shares. The shares will be allocated to Institutional Investors with the highest offer to the lowest (provided that it is not less than the offer price), with shares being allocated on a proportional basis among those Institutional Investors that have tendered offers at the same price.
The underwriters, who are Riyad Capital Company, AlRajhi Capital Company and SNB Capital Company, will underwrite the new shares, which remain unsubscribed for after the rump offering, for the offer price. |
| Remaining Offering Start Date | 2023-11-26 Corresponding to 1445-05-12 |
| Remaining Offering End Date | 2023-11-27 Corresponding to 1445-05-13 |
| Specification of the Remaining Offering Period Hours | The rump offering period for the unsubscribed shares amounting to 38,531,460 shares will start at 10:00AM on Sunday 12/05/1445H Corresponding to 26/11/2023AD and continues until 5:00PM on Monday 13/05/1445H Corresponding to 27/11/2023AD. |
| Additional Information | In case of any inquiries, please contact with the department of Investor Relations on:
Telephone No: 0112027830 Email: IR@nadec.com.sa |
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