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tadco-agri.com

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About Tabuk Agricultural Development

Tabuk Agricultural Development works in agricultural production, processing and marketing, specializing in producing wheat.

Tabuk Agricultural Development Headquarter Location

45 km Jordan Road

Tabuk,

Saudi Arabia

+966 14 4500000

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Latest Tabuk Agricultural Development News

Tabuk Agricultural spends SAR 49 mln of rights issue proceeds

Aug 24, 2017

24-08-2017 Argaam Tabuk Agricultural Development Co. ( TADCO ) said it spent SAR 49.4 million out of the total proceeds generated from its rights issue by the end of H1 2017. Costs related to the rights issue came in at SAR 14.9 million, against the SAR 16 million estimated in the prospectus, the company said in a statement to Tadawul on Thursday. A total of SAR 10.4 million was used for general corporate purposes versus a planned amount of SAR 11.8 million. The company spent SAR 4.27 million on its crop production project in Sudan compared to SAR 140 million stated in the prospectus. The work was suspended due to legal issues related to land acquisition. The agricultural firm is considering using this amount towards a new project or to cover the increase in requirements of other projects. TADCO also spent SAR 3.53 million on its  French fries plant , compared to SAR 38.6 million stated in the prospectus. The project is 31 percent complete. About SAR 14.99 million of proceeds were used for the company’s  mixed-fodder project . The company has completed 23 percent of the facility. The project was expected to consume SAR 26.69 million from rights issue proceeds. In addition, SAR 1.33 million was spent on its  olive-pressing plant , which is 21 percent complete. Follow us on Follow

Tabuk Agricultural Development Acquisitions

1 Acquisition

Tabuk Agricultural Development acquired 1 company. Their latest acquisition was ASTRA Food Co - Agriculture on March 30, 2017.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

3/30/2017

$99M

Acquired Unit

1

Date

3/30/2017

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired Unit

Sources

1

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