Riyadh: Saudi poultry brand Arabian Company for Agricultural and Industrial Investment (Entaj) has announced the price range for its initial public offering (IPO) between SAR 46 and SAR 50 per share to list shares the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).

Entaj also noted that the institutional book-building period for participating parties has begun on 9 February 2025 and will close on the 13th this month, according to a press release.

On 30 September 2024, the Capital Market Authority (CMA) approved the application for registering its share capital and the offering of 9 million ordinary shares, representing 30% of Entaj total issued share capital.

The final offer price will be announced following the end of the institutional bookbuilding period.

Entaj noted that net proceeds from the IPO will be distributed to the selling shareholder Arabian Agricultural Services Company (ARASCO), adding that it will not receive any part of the net offering proceeds.

Moreover, the company appointed SNB Capital as the lead manager, financial advisor, bookrunner, and underwriter for the IPO.

It is worth mentioning that Entaj entered into a non-binding memorandum of understanding (MoU) with the listed Saudi Industrial Export Company (SIEC), known as Sadirat, to consider either equity acquisition or a takeover of the entire capital of Advanced Energy Trading and Contracting Company, which is a single-person company and one of the subsidiaries of Entaj.

 

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