Riyadh, Kingdom of Saudi Arabia:  The Arabian Company for Agricultural and Industrial Investment (“Entaj” or “Company”) is pleased to announce that the Capital Market Authority (“CMA”) has granted approval for the registration and initial public offering (“IPO”) of it shares on the Main Market of the Saudi Exchange (Tadawul).  

This approval, dated 27/3/1446H (corresponding to 30/09/2024G), facilitates the offering of 9,000,000 shares, representing 30% of the Company’s total issued share capital. Entaj’s prospectus detailing information on financial statements, operational activities, risks and the management will be published prior to the start of the subscription period.

The CMA approval is valid for 6 months from the approval date by the CMA’s Board. Further information regarding the CMA’s rules on approval, can be found here.

In connection with the IPO, SNB Capital has been appointed as the Financial Advisor, Lead Manager, Bookrunner and Underwriter.

Commenting on the approval, Eng. Raja Alharbi, Chief Executive Officer said: “We are delighted to receive the approval from the CMA to proceed with our initial public offering. This milestone marks an important step in Entaj’s journey toward expanding our presence in the Saudi Arabian market and beyond. As one the leading players in the poultry and food production sector, this IPO will allow us to further invest in innovation, increase our production capabilities, and enhance our distribution networks to meet growing consumer demand. We remain committed to delivering sustainable value to our investors and contributing to the development of the Kingdom’s economy in line with Vision 2030.”

Entaj was established 2004G as the brand of ARASCO Foods and is one of the most prominent poultry producers in the Kingdom of Saudi Arabia. Arabian Agricultural Services Company (“ARASCO”) established Arabian Company for Agriculture and Industrial Investment on [24/11/1432H] as a [Limited liability company] to invest in agricultural activities in the Kingdom and transferred its entire poultry business (along with the “Entaj”) brand to the Company.

For more information, please visit the CMA’s website (www.cma.org.sa) and Entaj’s website (www.entaj.com ), where the IPO prospectus will be published in due course.

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