Entaj Sets Final IPO Price as Investor Interest Soars
Deal News | Feb 19, 2025 | Zawya
Entaj, the Arabian Company for Agricultural and Industrial Investment, has finalized its IPO price at 50 riyals per share, equating to a market capitalization of SAR 1.5 billion. This price was determined after robust institutional investor interest, with books covered within hours at SAR 93 billion, 208.4 times over. Individual investor subscriptions start on February 26, 2025. Established by ARASCO in 2004 to enhance Saudi's agricultural sector, Entaj has appointed SNB Capital Company to lead the IPO process, listing 9 million shares, equivalent to 30% of its capital, on Tadawul.
Sectors
- Agriculture
- Food Production
- Financial Services
Geography
- Saudi Arabia – Entaj is a Saudi Arabian company, and the IPO process is being conducted on the Saudi Main Market (Tadawul).
Industry
- Agriculture – Entaj is involved in agricultural activities, reflected in the company's establishment to invest in Saudi Arabia's agricultural sector.
- Food Production – Entaj is a poultry firm, which categorizes it under the food production industry.
- Financial Services – The role of SNB Capital in managing and underwriting the IPO falls under this industry.
Financials
- 50 riyals per share – This is the final IPO offer price set by Entaj.
- SAR 1.5 billion – This is the market capitalization implied by the final IPO offer price.
- SAR 93 billion – The amount covered in the book-building process, representing 208.4 times coverage.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Entaj | Target Company | Company | Entaj is a Saudi poultry firm undertaking an IPO. |
| ARASCO | Parent Company | Company | ARASCO is the parent company which established Entaj to participate in agricultural investment. |
| SNB Capital Company | Lead Manager and Financial Advisor | Company | SNB Capital is facilitating the IPO as the lead manager, bookrunner, and underwriter. |
| Bindu Rai | Writer | Person | The journalist who authored the article. |
| Seban Scaria | Editor | Person | The editor involved in preparing the article for publication. |