NADEC says SALIC buys 12.5% of total shares in negotiated deal

Logo of National Agricultural Development Co. (NADEC)

National Agricultural Development Co. (NADEC) received on April 11 a letter from Saudi Agricultural and Livestock Investment Co. (SALIC), a major shareholder, about the completion of a negotiated deal by SALIC to buy 12.66 million shares.

The deal represents nearly 12.46% of NADEC’s total shares, which amount to 101.64 million, the company said in a statement to Tadawul.

On April 6, four negotiated deals were executed on 12.7 million shares of NADEC at a total value of SAR 436.9 million.

SALIC previously owned 20%, or 20.33 million shares, of NADEC. Following the deal, SALIC will hold a 32.46% stake in NADEC.

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