TADCO subsidiary Horizon Foods appoints financial advisor for Nomu listing

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Tabuk Agricultural Development Co. (TADCO) announced that its 50%-owned subsidiary Horizon Foods Ltd. Co. appointed, on July 11, Wasatah Capital as financial advisor to list its shares on the Nomu-Parallel Market.

The offering process will be in accordance with the rules of registration and listing, TADCO said in a statement to Tadawul.

The move is among TADCO’s efforts to urge its subsidiaries to listing their shares in the financial market, to reflect positive impact on the shareholders' equity and the company's financial position.

In December 2018, TADCO completed the acquisition of a 50% stake in Horizon Foods for SAR 31.1 million, according to data available with Argaam.

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