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.