Entaj to Float 30% in IPO on Saudi Tadawul
Deal News | Jan 30, 2025 | Zawya
The Arabian Company for Agricultural and Industrial Investment, known as Entaj, a key player in Saudi Arabia's poultry industry, is set to proceed with an Initial Public Offering (IPO) on the Main Market (Tadawul). This move will see 30% of Entaj's total issued share capital made available to the public, amounting to 9 million ordinary shares. The pricing for these shares will be finalized after a book-building period. SNB Capital Company will serve as the lead manager, financial advisor, bookrunner, and underwriter for the offering. The company received the green light from the Saudi Capital Market Authority on September 30. CEO Raja Alharbi highlighted the IPO as a strategic move to enable the company to invest in innovation, increase production capabilities, and expand distribution networks. Entaj, originally established in 2004 by the Arabian Agricultural Services Company (ARASCO) to focus on agricultural investments, is aiming to capitalize on this offering to bolster its position in the industry.
Sectors
- Agriculture
- Investment
- Financial Services
Geography
- Saudi Arabia – Entaj is based in Saudi Arabia, and the IPO is taking place on the Saudi market (Tadawul).
Industry
- Agriculture – The article focuses on Entaj, which is a leading poultry producer and is involved in agricultural activities in Saudi Arabia.
- Investment – Entaj's planned IPO and investments in innovation, production, and distribution highlight the company's strategic financial maneuvers in the investment sector.
- Financial Services – The involvement of SNB Capital Company as the financial advisor and underwriter for the IPO places this in the financial services industry.
Financials
- 30% – The percentage of Entaj's total issued share capital to be floated in the IPO.
- 9 million – The number of ordinary shares available in the IPO.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Entaj | Target | Company | A leading poultry producer in Saudi Arabia planning an IPO. |
| SNB Capital Company | Lead Manager, Financial Advisor, Bookrunner, and Underwriter | Company | Serving various roles for Entaj's IPO. |
| Saudi Capital Market Authority | Regulatory Approval | Government | Provided approval for Entaj's IPO. |
| Raja Alharbi | CEO | Person | CEO of Entaj. |
| Arabian Agricultural Services Company (ARASCO) | Parent Company | Company | Established Entaj to invest in agricultural activities in Saudi Arabia. |