Saudi feed company Naf seeks $8.1mln from IPO
Saudi Arabia's Naf Company for Feed for Industry (Naf), an animal fodder producer, is looking to raise SAR 30.4 million ($8.1 million) from its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul) Parallel Market, Nomu.
The company, whose core business involves the manufacturing and sale of various feed products for livestock and poultry, has set its IPO price at SAR 76 per share. The offering comprises 400,000 ordinary shares, representing a 20% stake.
All the 400,000 offer shares will be allocated to qualified investors. Minimum subscription is set at 10 shares and maximum at 90,000 shares.
The offering will run for five days, from June 22, 2025 to June 26, 2025. Naf has appointed TeamOne Company as the financial advisor for the offering.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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