The company said in a statement today that the total bid volume will be between 915.75 million riyals ($244.2 million) and 999 million riyals ($266.4 million), from so the market value of the company when listed is between approximately 3.1 billion riyals and 3.3 billion riyals ($814 million and $888 million). Millions of dollars).
He added that he will determine the final offer price for all categories participating in the subscription at the end of the book’s construction period, and that it will be announced on May 31.
Yesterday Wednesday, the company announced its intention to offer its shares for initial public subscription and list its ordinary shares on the Saudi Stock Exchange.
First Mills said it will offer approximately 16.65 billion shares from existing shareholders, representing 30% of the company’s total equity.
According to the company’s release, the offering begins today, Thursday, and will run through June 7, with an entry date to be determined at a later date.
The company holds a 33.8% market share and distributes its products throughout the Kingdom, and has a significant presence in four main regions: Makkah, Qassim, Tabuk and Eastern Province.
This company was the first to undergo a privatization process among several flour milling companies in the Kingdom and was sold to the Al-Raha Al-Safi consortium for $540 million in 2020.
A well-informed source said at the time that the consortium was led by Saudi-based Al-Mutlaq Group and also included UAE-based Al-Safi, Abu Nayan Trading and Issa Al-Ghurair Investment, and Saudi Arabia’s bank. he Canaccord Genetti investment was a financial company. advisor, according to Reuters.
Middle Eastern companies raised about $21.9 billion through IPOs in 2022, accounting for more than half of total funds raised in the broader EMEA region, according to Dealogic data.
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