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Company to offer 9mln shares, representing 30% of its total issued share capital The Saudi-based Arabian Company for Agricultural and Industrial Investment (Entaj) plans to proceed with an IPO on the Main Market (Tadawul), with a float representing 30% of the company’s total issued share capital. One of the leading poultry producers in the kingdom, the offering comprises 9 million ordinary shares, the price of which will be determined after the book-building period. SNB Capital Company has been appointed lead manager, financial advisor, bookrunner, and underwriter. Entaj received approval from the Saudi Capital Market Authority on September 30, with company CEO Raja Alharbi saying at the time that the IPO will allow them to further invest in innovation, increase production capabilities, and enhance distribution networks. Entaj was established 2004 as the brand of Saudi’s Arabian Agricultural Services Company (ARASCO) to invest in agricultural activities in the kingdom. |
