‎Alamar Foods issues today individual subscription to 1.6 mln shares as ninth listing on Saudi Exchange, 2022

‎Alamar Foods issues today individual subscription to 1.6 mln shares as ninth listing on Saudi Exchange, 2022

Retail investors start today, July 20, subscription to 1.06 million shares of Alamar Foods Co., or 10% of total capital offered, at SAR 115 each, set by the book-building process.

The Capital Market Authority (CMA) approved, on June 7, the application filed by Alamar to float 10.63 million shares, representing 41.7% of its shares, in an initial public offering (IPO).

The company set two days for the offering to end as of tomorrow, July 21.

The institutional offering ended last week and was 47.5x covered.

This will be the ninth listing on the main market this year, after East Pipes Integrated Company for Industry on Jan. 24, Scientific & Medical Equipment House Co. on Jan. 31, Elm Co. on Feb. 3, Al-Dawaa Medical Services Co. on Feb. 27, AMAK on March 9, Nahdi Medical Co. on March 13, Saudi Home Loans Co. (SHL) on March 27 and Retal Urban Development Co. on June 5.

Last year witnessed nine listings, including Alkhorayef Water and Power Technologies Co., Theeb Rent a Car Co., Tanmiah Food Co, Arabian Internet and Communications Services Co. (solutions), ACWA Power, Arabian Contracting Services Co., Nayifat Finance Co., Saudi Tadawul Group and Almunajem Foods Co.

Company Profile:

In 1985, the company made a debut as