Latham & Watkins Guides NADEC’s SAR 2 Billion Rights Issue 

Latham & Watkins has served as the legal advisor to The National Agricultural Development Company (NADEC), a prominent Saudi joint-stock company, in its SAR 2 billion rights issue. This landmark offering, consisting of 200 million ordinary shares at SAR 10 per share, has propelled the company’s capital to SAR 3.0164 billion, marking it as the most substantial rights issue in Saudi Arabia for the year 2023. 

NADEC, a key player in agricultural and livestock development across the Middle East and North Africa, has been instrumental in advancing Saudi Arabia’s initiatives for bolstering regional and global food security. The rights issue, a strategic financial move, is poised to further solidify NADEC’s prominent position in both local and regional markets. The raised capital will facilitate the company’s expansion endeavours in dairy, juice, agricultural products, and red meat sectors, as well as enable entry into new markets. Additionally, the funds will be allocated for loan repayments and meeting general financial requirements. 

The Latham team was led by Riyadh partner Salman Al-Sudairi (pictured), with associates Najla S. Al-Gadi and Aya AlHumaid.