SALIC to sell entire stake in Saudi Fisheries for SAR 122.4M

Logo of Saudi Agricultural and Livestock Investment Co. (SALIC)

Saudi Fisheries Co. (Alasmak) was notified on Aug. 15 by its shareholder Saudi Agricultural and Livestock Investment Co. (SALIC) of selling its entire 40% stake in the former, amounting to 16 million shares, to Abdulaziz bin Abdullah Al-Humaid for SAR 122.4 million.

In a statement to Tadawul, the company said the stake sale will be concluded after obtaining the regulatory approvals.

For More Mergers and Acquisitions

Upon the deal completion and ownership transfer, there will be a change in the major shareholders’ list, which will be later announced by the company, the statement added.

According to data from Argaam, the stake was sold at SAR 7.65 per share, compared to the Aug. 15 closing price of SAR 22.02 apiece.

Abdulaziz bin Abdullah Al-Humaid is a businessman who is currently the Board Chairman of Qassim Chamber of Commerce & Industry, and Raoom Trading Co.