TADCO books SAR 1.1M loss on Horizon Food stake sale
- Source
- Argaam - Company Disclosures
- Source link
- https://www.argaam.com/en/article/articledetail/id/1929032
- Published
- 2026-08-13 09:54:00
- Discovered by ProcIntel
- 2026-08-13 16:13:42
- Category
- Supplier Risk
- Geography
- Saudi Arabia, UAE
- Organisations
- —
- Review status
- Pending
- Record type
- REAL
Summary
<p ><img src="https://argaamplus.s3.amazonaws.com/6c3c725c-a4df-45c5-95ad-4d1089852057.png" ></p> <p class="ckeCaption" >TADCO said the financial impact of the two transactions will be reflected in its financials for the period ending Sept. 30, 2026</p> <hr> <p >Tabuk Agriculture Development Co. (<a href="http://www.argaam.com/en/tadawul/tasi/tadco" target="_blank">TADCO</a>) sold 300,000 shares in <a href="https://www.argaam.com/en/tadawul/nomu/horizon-food" target="_blank">Horizon Food Co.</a> at SAR 35 per share through two separate transactions, generating total proceeds of SAR 10.5 million before related expenses.</p> <p ></p> <p >The sale included 157,100 shares worth SAR 5.5 million and 142,900 shares worth SAR 5 million, according to a <strong>Tadawul </strong>statement.</p> <p ></p> <p >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.</p> <p ></p> <p >The financial impact of the two transactions will be reflected in the company’s financial statements for the period ending Sept. 30, 2026.</p> <p ></p> <p >Any material developments related to the matter, including any additional significant sale, will be announced in due course, the statement said.</p> <p ></p> <p >According to <span ><strong>Argaam </strong></span>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.</p> <p ></p> <p >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.</p> <p ></p> <table align="center" border="1" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="4" > <p><strong>Details of</strong> <strong>TADCO Share Sales in</strong> <strong>Horizon Food</strong></p> </td> </tr> <tr > <td > <p ><strong>Announcement date</strong></p> </td> <td > <p align="center" ><strong>Shares sold (000)</strong></p> </td> <td > <p align="center" ><strong>Sale value (SAR mln)</strong></p> </td> <td > <p align="center" ><strong>Loss (SAR mln)</strong></p> </td> </tr> <tr > <td > <p ><strong>March 15</strong></p> </td> <td > <p align="center" >314.25</p> </td> <td > <p align="center" >10.98</p> </td> <td > <p align="center" >0.94</p> </td> </tr> <tr > <td > <p ><strong>March 26</strong></p> </td> <td > <p align="center" >228.50</p> </td> <td > <p align="center" >8.00</p> </td> <td > <p align="center" >0.69</p> </td> </tr> <tr > <td > <p ><strong>April 8</strong></p> </td> <td > <p align="center" >171.00</p> </td> <td > <p align="center" >5.99</p> </td> <td > <p align="center" >0.64</p> </td> </tr> <tr > <td > <p ><strong>May 13*</strong></p> </td> <td > <p align="center" >286.25</p> </td> <td > <p align="center" >10.02</p> </td> <td > <p align="center" >1.06</p> </td> </tr> <tr > <td > <p ><strong>Aug. 13*</strong></p> </td> <td > <p align="center" >300.00</p> </td> <td > <p align="center" >10.50</p> </td> <td > <p align="center" >1.12</p> </td> </tr> <tr > <td > <p ><strong>Total</strong></p> </td> <td > <p align="center" ><strong>1,300.00</strong></p> </td> <td > <p align="center" ><strong>45.49</strong></p> </td> <td > <p align="center" ><strong>4.44</strong></p> </td> </tr> </tbody> </table> <p ><em class="ckeCaption">*More than one transaction.</em></p>
Procurement Relevance Gate
- geographic_exposure (weight 8) — matched on "2 linked geographies"
Initial Signal Assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.
A provisional, automatically-computed reading of this individual Signal, before Event extraction or human review. Not a final rating.
Not Assessed — this Signal did not pass the Procurement Relevance Gate, or is fictional/excluded test data.