Arabian Mills Company for Food Products today, Wednesday, announced the completion of the process of creating the order book for the participating categories segment and setting the final offering price for the initial public offering at 66 riyals, which is the upper limit of the previously announced price range, with a coverage ratio of 132 times the total shares offered.
The process of building an order book for the institutional segment saw orders worth 134.1 billion riyals from local and international investors, the company said in a statement on Saudi Tadawul.
Fourth Mills announced a divestiture of 30% of its capital from selling shareholder Gulf Flour Milling Company to the Saudi market, which is equally owned by United Feed Manufacturing Company, Abdullah Al-Othaim Markets Company and Alana International Company.
The company achieved approximately 308 million riyals in revenue in the first half, and projects a compound growth rate of 29.7% in revenue between 2021 and 2023, profits of 69%, profit margin before interest, tax and depreciation of 38.4% and return on equity at 22.8%.
The Company confirmed that the subscription period for the individual customer segment commences on Wednesday, September 18, 2024, and ends on Thursday, September 19, 2024, and the final allotment will be announced on September 26, 2024, with the Company's shares expected to begin trading on the main Tadawul Market once all relevant legal requirements have been met.