Fourth Milling Company has set the price range for its initial public offering (IPO) between SAR 5 and SAR 5.30 per share, according to a press release.

The group commenced the institutional book-building period for participating parties on 15 September 2024, which is set to close on 19 September.

Meanwhile, the offering price will be announced following the end of the institutional bookbuilding period.

The total offering size is expected to stand between SAR 810 million ($216 million) and SAR 858.60 million ($228.90 million), indicating a market cap at listing between SAR 2.70 billion ($720 million) and SAR 2.80 billion ($763.20 million).

In June, the Capital Market Authority (CMA) passed Fourth Milling’s offering to list 162 million ordinary shares, representing 30% of the total issued share capital.

In recent remarks, Bader Hamed Al Aujan, Chairman of Fourth Milling, highlighted that through the IPO, “we aim to further strengthen our market position, expand our product portfolio and continue to invest in infrastructure, people and processes.”

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