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Logo of National Agricultural Development Co. (NADEC)
National Agricultural Development Co.’s (NADEC) shareholders approved capital increase via a SAR 2 billion rights issue, during the extraordinary general meeting (EGM) held on Nov. 5, according to a statement to Tadawul.
Capital Increase Details
Current Capital
SAR 1.01 bln
No. of Shares
101.64 mln
New Capital
SAR 3.01 bln
No. of Shares
301.64 mln
Percentage of Increase
196.77% (1.9677 share for every existing share)
Method
Issue of 200 mln shares
Reason
To fulfill strategic and operating plans; Support future activities
Record Date
Nov. 5, 2023, for shareholders of record and those registered with Edaa on the second trading day following the EGM
Fluctuation limits on Nov. 6 will be calculated based on a share price of SAR 22.54 and the outstanding orders will be canceled.
NADEC rights will be deposited into applicable investor portfolios on Nov. 8.
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