TADCO books SAR 1.1M loss on Horizon Food stake sale

TADCO said the financial impact of the two transactions will be reflected in its financials for the period ending Sept. 30, 2026

Tabuk Agriculture Development Co. (TADCO) sold 300,000 shares in Horizon Food Co. at SAR 35 per share through two separate transactions, generating total proceeds of SAR 10.5 million before related expenses.

The sale included 157,100 shares worth SAR 5.5 million and 142,900 shares worth SAR 5 million, according to a Tadawul statement.

The transactions are expected to result in a SAR 1.1 million loss, reflecting the difference between the selling price and the book value at SAR 38.72 per share, based on the company’s latest annual financial statements for 2025.

The financial impact of the two transactions will be reflected in the company’s financial statements for the period ending Sept. 30, 2026.

Any material developments related to the matter, including any additional significant sale, will be announced in due course, the statement said.

According to Argaam data, two negotiated deals were executed on Horizon Food on Aug. 12, involving approximately 300,000 shares with a total value of SAR 10.5 million. The two transactions represented around 3.8% of the company’s total 8 million shares.

TADCO had previously announced the execution of several transactions to sell part of its stake in Horizon Food, following the board’s approval to sell 1 million shares at a minimum price of SAR 35 per share. The total shares sold through the announced transactions reached 1.3 million, with a total value of SAR 45.49 million, resulting in losses of SAR 4.44 million.

*More than one transaction.