Fitiaihi says sold stake in Al-Jouf Agricultural through Tadawul for SAR 200 mln

03/03/2021 Argaam

Fitaihi Holding Group headquarters

Fitaihi Holding Group announced that the total value of selling its 9% stake in Al-Jouf Agricultural Development Co. is SAR 200 million, according to a bourse statement.

 

The deal was made through the stock market and without any special conditions.

 

Sale Details

Sale value

SAR 200 mln

Book value

SAR 74.3 mln

Profit

SAR 125.7 mln

Method

Through the stock market and without any special conditions

 

The deal has the following related parties who represent Fitaihi on the board of Al-Jouf Agricultural:

 

1) Omar Alhumaidan (Fitaihi board member)

 

2) Mohammed Fitaihi (former board member at Fitaihi)

 

) Yasser Abdelhamid (Fitaihi CEO)

 

According to data compiled by Argaam, Fitaihi completed the sale of its entire stake (2.70 million shares) in Al-Jouf Agricultural by the end of trading on Tuesday, March 2.

 

Al-Jouf Agricultural closed Tuesday' session more than 0. 3% lower at SAR 74.50.

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