Arab​ Mills Food Products Company’s Initial Public Offering

The subscription ⁣period‌ for ‌Arab Mills Food​ Products Company’s initial⁢ public offering of approximately 1.539 million shares begins ‌today, Wednesday, and will last for two days, ending Thursday.

The‍ subscribed banks for ⁣this offering are Al Rajhi Bank, First Saudi Bank ⁤(SABB), ‌and ‍Bank ⁣Saudi Franchi.

The company has completed‍ the‌ order‍ book process for participating segments and set the final​ offer price at 66 riyals, ‌which is the upper⁤ limit of the previously announced price‍ range, with a coverage ratio of 132 times the total number of‍ shares offered.

According⁢ to ‍a statement on Saudi Tadawul,⁤ the order book process ⁢for the institutional segment ‍saw orders ⁣worth 134.1 billion riyals from ⁤local and international investors.

Upon listing,‌ the⁤ company’s market value⁢ is expected⁤ to reach 3.39 billion riyals.

The number of shares allocated to participating departments is approximately 15.39 million, representing ⁢100% of the total offered shares, with the final allocation to be determined after the ‌individual⁣ subscription period.

If there‌ is sufficient⁣ demand from individual customers, the financial adviser may reduce‌ the​ number of shares​ allocated to participating ⁣departments‍ to a minimum of⁣ 13.85 million shares, representing‌ 90% of the offered shares.

The offering process resulted in the sale ⁤of ​approximately ⁤15.39 million ordinary⁤ shares, representing 30% of the company’s ​current capital stock.