The Arabian Company for Agricultural and Industrial Investment, known as Entaj, has received official approval from the Capital Market Authority (CMA) for its initial public offering (IPO) on the Saudi Exchange (Tadawul). This significant milestone allows Entaj to offer 9,000,000 shares, which represents 30% of its total issued share capital.
Details of the Offering
Prior to the subscription period, Entaj will publish its prospectus, which will include comprehensive information on financial statements, operational activities, potential risks, and management details. The CMA’s approval remains valid for six months from the date granted by the CMA’s Board. SNB Capital will serve as the Financial Advisor, Lead Manager, Bookrunner, and Underwriter for this IPO.
Commitment to Growth and Innovation
Eng. Raja Alharbi, Chief Executive Officer, expressed enthusiasm about the approval, stating: “We are delighted to receive the approval from the CMA to proceed with our initial public offering. This milestone marks an important step in Entaj’s journey toward expanding our presence in the Saudi Arabian market and beyond. As one of the leading players in the poultry and food production sector, this IPO will allow us to further invest in innovation, increase our production capabilities, and enhance our distribution networks to meet growing consumer demand. We remain committed to delivering sustainable value to our investors and contributing to the development of the Kingdom’s economy in line with Vision 2030.”
The Future of Agriculture and Technology
Founded in 2004 as the brand of ARASCO Foods, Entaj has become a leading poultry producer in Saudi Arabia. The company aims to leverage technological advancements to enhance agricultural practices, aligning with global trends that emphasize efficiency and sustainability in the agriculture sector. As Entaj moves forward with its IPO, it stands at the forefront of innovation in agriculture, demonstrating a commitment to growth that benefits both investors and the broader economy.