SASCO reports SAR 62.6M fair value gain on xAI investment
- Source
- Argaam - Company Disclosures
- Source link
- https://www.argaam.com/en/article/articledetail/id/1926606
- Published
- 2026-08-06 10:20:00
- Discovered by ProcIntel
- 2026-08-06 14:59:26
- Category
- Supplier Risk
- Geography
- Saudi Arabia, UAE
- Organisations
- —
- Review status
- Pending
- Record type
- REAL
Summary
<p><img src="https://argaamplus.s3.amazonaws.com/15c9bb18-3910-441b-9a34-b773990ada6d.png" ></p> <p class="ckeCaption" ><!--StartFragment-->SASCO says the gain will reflect in Q3 2026 financial statements<!--EndFragment--></p> <p ></p> <hr> <p >Saudi Automotive Services Co. (<a href="https://www.argaam.com/en/tadawul/tasi/sasco" target="_blank">SASCO</a>) said it received on Aug. 5 an updated fair value assessment for its investment in xAI from the investment fund after announcing its Q2 2026 results, according to a statement to <strong>Tadawul</strong>.</p> <p ></p> <p >The updated valuation puts the investment at $56.9 million as of June 30, 2026, versus $36 million previously reflected in the company's Q2 financial statements, both before applying the marketability discount. This resulted in a fair value gain of $20.9 million before the discount, or $16.7 million (SAR 62.6 million) after the discount.</p> <p ></p> <div data-olk-copy-source="MessageBody" >SASCO added that the updated valuation will be reflected in its Q3 2026 financial statements.</div> <div data-olk-copy-source="MessageBody" ></div> <div >According to <span ><strong>Argaam </strong></span>data, SASCO reported a net loss of SAR 29.7 million in H1 2026, compared with a net profit of SAR 34 million in the same period last year.</div>
Procurement Relevance Gate
- geographic_exposure (weight 8) — matched on "2 linked geographies"
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