TADCO plans SAR300mn rights issue

TADCO plans SAR300mn rights issue

Published: July 16, 2013

Saudi agricultural company wants fresh funds to back new domestic and international projects.

Tabuk Agricultural Development Company (TADCO), a Saudi Arabian company listed on the kingdom’s Tadawul exchange, plans to increase its capital through a rights issue.

The deal is expected to be worth some SAR300mn (US$80mn) and will help the company to finance several new agricultural projects in Saudi Arabia and abroad.

The number of shares, offer price and timing of the deal have yet to be confirmed.