Latest news with #ArabianCompanyforAgriculturalandIndustrialInvestment
Zawya
18-03-2025
- Business
- Zawya
SNB Capital successfully leads advisory for Entaj's SAR450mln Market Debut IPO
RIYADH, Saudi Arabia: SNB Capital has successfully completed its advisory services for the Initial Public Offering (IPO) of Arabian Company for Agricultural and Industrial Investment (Entaj), marking another milestone in Saudi Arabia's capital markets. The final share price was set at SAR 50 per share, raising a total of SAR 450 million (USD 120 million). A total of 9 million shares, representing 30% of Entaj's share capital, were offered, with 90% allocated to institutional investors and the remaining 10% reserved for individual investors. Following a highly successful book-building process, institutional investors oversubscribed the offering by more than 208 times and retail investors by more than 30 times. SNB Capital acted as financial advisor, lead manager and underwriter for the transaction. Zaid Ghoul, Head of Investment Banking at SNB Capital commented: "The overwhelming response to Entaj's IPO underscores the confidence investors have in Saudi Arabia's capital markets, which offer dynamic growth opportunities. We are pleased to have provided our advisory services to Arabian Company for Agricultural and Industrial Investment (Entaj), which joins a growing client base that views SNB Capital as a trusted partner for strategic support and financial expertise. Whether through public or private offerings, debt financing advisory, mergers and acquisitions, or debt issuance, we remain committed to helping companies expand and achieve their ambitions.' With a 7.6% share of the Kingdom's poultry market, Entaj's IPO contributes to expanding investment opportunities in the sector and enhancing its competitiveness. About SNB Capital: SNB Capital Company, a licensed entity by Capital Market Authority (CMA), is a leading regional financial institution with deep industry expertise across five business lines: Asset Management, Wealth Management, Securities, Investment Banking, and Principal Investments. SNB Capital is the top ranked broker in terms of market share on the Saudi Exchange as of December 2024, and the largest asset manager in Saudi Arabia with SAR 239 billion (USD 63.73 billion) of assets under management as of March 2024.
Trade Arabia
17-03-2025
- Business
- Trade Arabia
Entaj lists shares on Saudi Exchange after IPO
Arabian Company for Agricultural and Industrial Investment (Entaj), one of the leading poultry brands in Saudi Arabia, announced today the listing of its shares on the main market of the Saudi Exchange. This follows the successful completion of its initial public offering (IPO). The company is now trading under the ticker symbol: 2287. The IPO consisted of 9,000,000 ordinary shares, with 90% of the offer shares allocated to institutional investors. The orders recorded during the institutional book-building exceeded SAR93 billion ($25 billion), representing a coverage of 208.4 times. The number of shares that were allocated to the individual investors tranche was 900,000, representing 10% of the total offer shares. The offering saw 499,021 individual investors place orders totaling SAR1.4 billion, reflecting a subscription coverage of 30.2 times for this tranche. The final offer price was set at SAR50 per share, which is at the top end of the previously announced price range for IPO, with the Company successfully raising gross proceeds of SAR450 million with an implied market capitalisation of SAR1.5 billion at listing. Ziyad Al Sheikh, Vice Chairman, commented: "Today marks a historic milestone for Entaj as we officially list on the Saudi Exchange's Main Market, a testament to two decades of growth, innovation, and expansion. The overwhelmingly positive investor reception underscores the strength of Entaj's investment case and the trust in our vision. As we step into this new chapter, we remain steadfast in our commitment to excellence, transparency, and accelerating strategic growth in the Kingdom's dynamic poultry sector. Our focus will continue to be on delivering long-term value for our shareholders while advancing the Vision 2030 goals of food security and local production." Raja M Alharbi, CEO, said: 'The successful completion of our IPO reinforces Entaj's position as a leading force in Saudi Arabia's highly competitive poultry sector. This milestone provides us with enhanced visibility, credibility, and access to resources, positioning us to drive sustainable growth in the years ahead. As a high-growth company, we remain focused on scaling production, expanding our distribution network, and enhancing operational efficiencies to meet the growing demand for fresh, locally produced poultry. We are deeply grateful to our employees, customers, and partners for their unwavering support in making this achievement possible, and we thank our investors for their trust and confidence in our growth story." -
Zawya
13-03-2025
- Business
- Zawya
Entaj IPO: Saudi poultry firm to debut on Tadawul on March 17
Saudi poultry firm Arabian Company for Agricultural and Industrial Investment (Entaj) will debut on the Main Market (Tadawul) on March 17. The final offer price was set at 50 Saudi riyals ($13.33) per share, at top of the range, with books covered within hours of opening on 9 February, exceeding SAR 93 billion and representing a coverage of 208.4 times. The market capitalisation implied was SAR 1.5 billion ($400 million) at listing. Established in 2004 as the brand of Saudi's Arabian Agricultural Services Company (ARASCO) to invest in agricultural activities in the kingdom, last month, the company announced its intention to float of 9 million shares, representing 30% of the company's total issued share capital. SNB Capital is the lead manager, financial advisor, bookrunner and underwriter on the IPO. This will be the fourth listing on the Saudi Main Market this year, following the debut of Al Moosa Health and Nice One in January, followed by digital brokerage platform Derayah Financial earlier this week. (Writing by Bindu Rai, editing by Daniel Luiz)
Trade Arabia
05-03-2025
- Business
- Trade Arabia
Entaj completes allotment of shares following IPO
Arabian Company for Agricultural and Industrial Investment (Entaj), one of the leading poultry brands in Saudi Arabia has announced the successful completion of the individual investor offering period and the final allotment of the offered shares in relation to the company's initial public offering (IPO). Following the completion of the institutional book-building period, which set the final offer price at SAR50 per share and resulted in an oversubscription of 208.4 times of the total offered shares, the individual investors offering took place from February 26 to 27. The number of shares that were allocated to the Individual Investors tranche was 900,000, representing 10% of the total offer shares. The offering saw 499,021 individual investors place orders totaling SAR1.4 billion, reflecting a subscription coverage of 30.2 times for this tranche, the company said. The company allocated a minimum of 1 share to each individual investor, with the remaining shares allocated on a pro-rata basis, based on the size of demand, with an average allocation factor of 1.5%. Based on the results of the retail subscription process, the shares allocated to participating parties will be reduced to 8,100,000 shares, representing 90% of the total offer shares. The final offer price of SAR50 implies a market capitalisation of SAR1.5 billion (approximately $400 million) at listing. Following the listing, the company is expected to have a free float of 30% (9,000,000) of its total shares (30,000,000).
Zawya
05-03-2025
- Business
- Zawya
Entaj IPO: Saudi poultry firm reduces final allotment of shares for retail subscription
Saudi poultry firm Arabian Company for Agricultural and Industrial Investment (Entaj) has reduced the number of shares allocated in the retail subscription for its IPO, which will list on the Main Market (Tadawul). Based on the results, shares allocated to participating parties will be reduced to 8.1 million shares, representing 90% of the total shares. The retail offering saw 499,021 individual investors place orders totalling 1.4 billion Saudi riyals ($373 million), reflecting a subscription coverage of 30.2 times for this tranche. The number of shares allocated in the individual investors' tranche were 900,000 offer shares, representing 10% of the total offering. Entaj allocated a minimum of one share to each individual investor, with the remaining shares allocated on a pro-rata basis, based on the size of demand, with an average allocation factor of 1.5%. The final offer price was set at SAR 50 per share, at top of the range, with books covered within hours of opening on 9 February, exceeding SAR 93 billion and representing a coverage of 208.4 times. The market capitalisation implied is SAR 1.5 billion at listing. Established in 2004 as the brand of Saudi's Arabian Agricultural Services Company (ARASCO) to invest in agricultural activities in the kingdom, the company announced last month, its intention to proceed with an IPO on the Main Market (Tadawul), with a float of 9 million shares, representing 30% of the company's total issued share capital. SNB Capital Company has been appointed as lead manager, financial advisor, bookrunner, and underwriter. A trading date is yet to be announced. (Writing by Bindu Rai, editing by Seban Scaria)
