TADCO books SAR 1.63M loss on Horizon Food stake sale

TADCO says the losses are non-cash in nature and arise from the gap between book value and the selling price

Tabuk Agricultural Development Co. (TADCO) said the partial sale of its stake in Horizon Food Co. at SAR 35 per share, with a total value of about SAR 19 million, resulted in a combined book loss of SAR 1.63 million.

In a statement to Tadawul, the company said it sold 314,250 shares for SAR 10.98 million, recording an accounting loss of SAR 942,750. This reflected the difference between the selling price and the book value of SAR 38 per share, based on TADCO latest 2024 financial statements. The company noted that the sale remains partial.

TADCO added that the losses are non-cash in nature and arise from the gap between book value and the selling price.

In a separate statement, the company said it also sold 228,500 shares at SAR 35 per share for a total of about SAR 8 million before transaction-related expenses, resulting in an expected book loss of SAR 685,500.

The transaction was concluded with multiple buyers through independent purchase orders.

The transactions are part of a previously announced plan to sell up to one million shares in Horizon Food to enhance liquidity and support operational and agricultural plans, TADCO said.

The financial impact of the transactions will be reflected in the company’s financial statements for the period ending March 31, 2026.