The Saudi First Mills Company, operating in the mills sector, intends to offer 30% of its shares in the main market of the Saudi Stock Exchange (Tadawul) in an initial public offering, according to a statement from the company on Wednesday.
This comes amid an increase in the activity of listings on the main and parallel markets on the Saudi Stock Exchange since last year.
According to the statement, the stake to be offered is 16.65 million ordinary shares.
It is scheduled to announce the price range of the company’s shares on May 18, and the final price will be announced on May 31.
What do we know about the company?
(According to the fact sheet attached to the offering announcement)
– Works in the field of producing flour products and wheat derivatives such as animal feed.
– The company has 4 factories in Saudi Arabia in Jeddah, Al-Qassim, Tabuk and Al-Ahsa, and it has a wheat milling capacity of 4,200 tons per day.
– Provides more than 48 products to 88 corporate clients – bakeries, commercial restaurants, etc. – and 350 wholesalers.
– The company owns a trademark for the retail sale of fine flour in Saudi Arabia, which is “Oula”.
– The company’s market share in the flour market in the Kingdom – according to the quantities sold – reached 33.8% in 2021.
– The company recorded a net profit of 197 million Saudi riyals (about $52.5 million) during the first nine months of 2022.
(Prepared by: Maryam Abdel-Ghani, to contact [email protected])
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