NADEC submits application file to CMA for capital increase by offering right issues of SAR 2 billion

The National Agricultural Development Company (NADEC) announced its submission on Monday, 12.06.2023, the application file to the Capital Market Authority (CMA) for the approval to increase the Company’s capital by the offering of the rights issue at a value of SAR 2 billion.

It is worth mentioning that Riyad Capital was appointed as the financial advisor for the offering to manage the subscription in the offering of issues rights. The Company will announce any developments in this regard in due course.

This comes with reference to The National Agricultural Development Company’s (NADEC) (the “Company”) announcement on 04.04.2023 related to the recommendation of its board of directors to increase the Company’s capital by offering rights issue at a value of (2,000,000,000) Saudi Riyals, conditional on obtaining the approval of the relevant official authorities and the extraordinary general assembly.