Announcement of Almunajem Foods Company’s intention to proceed with an initial public offering and listing on the Main Market of the Saudi Exchange
HSBC Saudi Arabia in its capacity as the Financial Advisor, Bookrunner, Lead Manager, and Underwriter on the potential initial public offering of Almunajem Foods Company (“Almunajem” or the “Company”) announce the Company’s intention to proceed with the initial public offering and listing of its ordinary shares (“Shares”) on the Main Market of the Saudi Exchange, where offering is expected to comprise a sale of existing shares and result in a free float of 30% of the Company’s share capital.
The Saudi Exchange approved the Company’s application for the listing of the Shares on the Main Market on the 17th of August 2021G and the Capital Market Authority (“CMA”) approved the Company’s application for the initial public offering of 18,000,000 ordinary shares (representing 30% of the Company’s share capital) on 28 September 2021G. The price at which all subscribers in the offering will purchase the Shares will be determined after the book-building period.
For more information, please visit the Capital Market Authority website (Almunajem_en.pdf (cma.org.sa)) and Almunajem website (https://almunajemfoods.com/ipo) where the Offering Prospectus is published.