Saudi Arabia’s First Milling Co. is next in line for stock market float, offers 30%

Saudi Arabia’s First Milling Co. is next in line for stock market float, offers 30%

The 30 per cent stake float equates to 16.65 million shares. A maximum of 1.665 million shares are to be allocated to individual investors.

The company is one of the market leaders in the flour and compound feed market, with a wheat milling capacity of 4,200 tons daily and a feed mixing capacity of 900 tons per day. It operates four large-capacity production facilities in the Kingdom.

Apart from its premium flour brand, ‘Aloula’, First Milling’s range extends to nearly 50 products, including those meant for B2B clients.

"We have a clear and focused strategy that will allow us to boost our market share and capture the strong potential growth in the market," said Abdullah Ababtain, CEO of First Milling Company. "This includes building scale and capacities, enhancing operational and financial efficiencies, expanding into new product categories, improving distribution and sales channels, and sustainably growing revenue and profit."