Riyadh – Mubasher: The board of Tabuk Agricultural Development Company has recommended raising the company’s capital by SAR 100 million through the issuance of a rights issue.
The aim of the capital hike is to finance and carry out its future projects and expansion in activities, as well as to leverage the company’s financial solvency and provide adequate capital by raising its operational capacity and future activities.
Tabuk is yet to announce the financial advisor of the capital hike, which is subject to the approval of the Capital Market Authority (CMA) and the company’s shareholders.
