Saudi SALIC increases stake in NADEC by 6.2%

The Saudi Agricultural and Livestock Investment Company (SALIC) increased its stake in the National Agricultural Development Company (NADEC) by 6.2 percent.

SALIC, which is owned by the Public Investment Fund (PIF), now owns around 38.65 percent of the capital of NADEC.

NADEC said on Monday in a regulatory filing on Riyadh’s Tadawul exchange that SALIC communicated its intention of completing the process of transferring ownership of the company’s indirectly owned shares.

NADEC also said that the transfer of 6.29 million shares from their capital has been made, and will be transferred.