The Saudi Stock Exchange (Tadawul) said the first subscription period and tradable rights trading for Tabuk Agriculture Co. (TADCO) will start on Tuesday, Jan. 13, 2015.
This period will end on Thursday, Jan. 22, 2015.
The fluctuation limits for trading tradable rights are larger than the company's fluctuation limits of share price.
Shareholders earlier approved increasing capital from SAR 200 million (20 million shares) to SAR 450 million (45 million shares) through offering rights issue shares at SAR 10 par value each.
The subscription proceeds will be used in financing four of the company’s projects, one of which is in Sudan.
Photo Credit: Arabianeye-Reuters