Entaj Confirms Plans for 30% IPO on Tadawul
Deal News | Jan 30, 2025 | Zawya
Entaj, a prominent poultry producer in Saudi Arabia, has announced plans to proceed with an IPO on the Tadawul stock exchange. The listing will involve a 30% float of the company’s total issued share capital, amounting to 9 million ordinary shares. The final share price will be determined after a book-building period. SNB Capital Company has been appointed as the lead manager, financial advisor, bookrunner, and underwriter for the IPO. Entaj received approval from the Saudi Capital Market Authority on September 30, and CEO Raja Alharbi emphasized that the funds raised will be used to fuel innovation, increase production capabilities, and expand distribution networks. Established in 2004 under Saudi's Arabian Agricultural Services Company, Entaj seeks to capitalize on its strategic position within the agricultural sector.
Sectors
- Agriculture and Industrial Investment
- Financial Services
Geography
- Saudi Arabia – Entaj is based in Saudi Arabia, and the IPO will take place on the Saudi Tadawul stock exchange.
Industry
- Agriculture and Industrial Investment – Entaj is part of the agriculture sector, focusing on poultry production, which aligns with the industrial investment domain.
- Financial Services – The IPO process and involvement of SNB Capital Company falls under the financial services sector.
Financials
- 9 million shares – The number of ordinary shares being offered in the IPO.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Entaj | Target company | Company | Entaj is a leading poultry producer in Saudi Arabia, preparing to float shares on the Tadawul market. |
| SNB Capital Company | Lead manager, financial advisor, bookrunner, and underwriter | Company | A financial services firm appointed to guide Entaj through the IPO process. |
| Saudi Capital Market Authority | Regulator | Government | The regulatory authority that approved Entaj's IPO. |
| Raja Alharbi | CEO | Person | CEO of Entaj who commented on the strategic aims of the IPO. |
| Arabian Agricultural Services Company (ARASCO) | Parent company | Company | The company under which Entaj was established. |