Arabian Company for Agricultural and Industrial Development will sell 30% of its shares in an IPO on Tadawul

BY THE ARAB TODAY Jan 31, 2025

Arabian Company for Agricultural and Industrial Development will sell 30% of its shares in an IPO on Tadawul

Arabian Company for Agricultural and Industrial Development will sell 30% of its shares in an IPO on Tadawul

Arabian Company for Agricultural and Industrial Development (Entaj), a poultry company based in Saudi Arabia, said it plans to launch an initial public offering (IPO) on the Saudi Exchange (Tadawul).

Entaj IPO

Entaj has received approval from the Saudi Capital Market Authority (CMA) to list 30% of its shares, which is 9 million shares. This was announced in a filing on Thursday.

The company got conditional approval from Tadawul to list on the main market in September last year. The price of the shares will be announced after the institutional book-building period ends.

The money raised from the IPO will go to the selling shareholders, but the company will not receive any of it.

SNB Capital is managing the process, acting as financial advisor, bookrunner, and underwriter. Retail investors can buy shares through several banks and investment firms, including SNB Capital, SAB Invest, Al Rajhi Capital, and others.

Important quote

“This IPO supports our goal of improving food security in Saudi Arabia, and it will help us invest more in our infrastructure and workforce to grow sustainably,” said Ziyad Al Sheikh, Vice Chairman of Entaj.

Offer details

Tranche A will include investment funds, foreign investors, and some others under swap agreements. 100% of the shares will be set aside for this group, with final allocations made after the subscription period for individual investors.

Tranche B will focus on individual investors in Saudi Arabia, GCC residents, and foreigners living in Saudi Arabia who have active investment accounts with the receiving agents. A maximum of 10% of the shares will be given to individual investors.

Company background

Entaj is a major poultry producer in Saudi Arabia, owned by the Arabian Agricultural Services Company (ARASCO). It produces 185 million birds a year and holds a 7.6% share of the fresh poultry market in the country. Over the past three years, its revenue has grown by 23% annually, driven by high demand for locally sourced poultry.

Published: 31th January 2025

For more article like this please follow our social media Twitter, Linkedin & Instagram

Also Read:

Dubai Financial Market sees 24% profit rise in 2024
UAE’s NMDC Energy reports 80% profit rise to $383M in 2024
Global air cargo hits record growth in 2024, driven by e-commerce


Business
Buy Instagram Followers: 6 Best Sites to Blow Up Fast

Buy Instagram Followers: 6 Best Sites to Blow Up Fast Building a strong Instagram presence takes time, but honestly, a few smart…

Economy, Kuwait
Kuwait’s Economic Growth Expected at 2.6% in 2025: IMF

Kuwait’s Economic Growth Expected at 2.6% in 2025: IMF Kuwait’s economy is expected to grow again next year. The International Monetary Fund…

Dubai, Real Estate
TECOM Group Launches $167 Million Innovation Hub Phase 4 at Dubai Internet City

TECOM Group Launches $167 Million Innovation Hub Phase 4 at Dubai Internet City Dubai-based TECOM Group has announced a new investment of…

Egypt, Energy, Israel
Israel Approves $35 Billion Gas Deal With Chevron to Supply Egypt

Israel Approves $35 Billion Gas Deal With Chevron to Supply Egypt Israel has approved its biggest natural gas deal ever, worth nearly…

Energy, Stock Markets, UAE
UAE-Based Petrochemical Firm Borouge Added to FTSE ADX Index

UAE-Based Petrochemical Firm Borouge Added to FTSE ADX Index UAE-based petrochemical company Borouge has been added to the FTSE ADX Dividend Stars…