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Tadco Sells Horizon Food Co.'s Stake to Boost Cash Liquidity

MT Newswires·08/13/2026 01:59:03
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01:59 AM EDT, 08/13/2026 (MT Newswires) -- Tabuk Agricultural Development Co. (SASE:6040), d/b/a Tadco, sold some of its shares in Horizon Food Co. (SASE:9564) at 35 Saudi riyals per share in two transactions, according to a Thursday release. The agricultural products company received sale proceeds of 5.5 million riyals and 5 million riyals from the two transactions. The sale was part of the company's plan to enhance its cash liquidity and support operational and agricultural plans. Tadco expects to recognize a loss of 1.1 million riyals from the transactions due to the difference between the sale price and the investment's book value, which will be reflected in its third-quarter financial statements.