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Tabuk Agricultural Development Co. (TADCO) has completed the sale of 314,250 shares in Afaq Al-Ghitha Co., generating SAR 19.98 million after administrative expenses. The transaction, executed through independent purchase offers, is part of the board's approved plan to sell one million shares at a minimum SAR 35 per share. The sale supports regulatory requirements for transferring Afaq Al-Ghitha from the Nomu – Parallel Market to the Saudi Main Market while enhancing TADCO's liquidity and financial flexibility.
This corporate action could influence TADCO's stock valuation and investor sentiment in the Saudi equity market. The partial divestment may signal strategic reallocation of capital, potentially affecting short-term share price volatility. Traders should monitor TADCO's interim financial statements for March 2026 to assess the transaction's financial impact and future operational plans.
For Gulf investors, the sale reflects broader regulatory shifts in Saudi capital markets. The remaining 685,750 shares under sale could further impact TADCO's balance sheet. Market participants should watch for updates on the transfer of Afaq Al-Ghitha to the Main Market, which may alter trading dynamics and investor access to the company.
