SAUDI ARABIA – Arabian Mills for Food Products Co. has officially listed its shares on the Saudi Exchange, marking a significant step in its growth trajectory.
The milestone follows the successful conclusion of the individual investor phase of its initial public offering (IPO), marking a significant milestone in its journey towards becoming a publicly traded company.
The IPO process began with approval from the Capital Market Authority (CMA) in June 2024 and has attracted considerable interest from institutional and retail investors.
Trading under the ticker symbol 2285, the company’s initial public offering (IPO) offered 15,394,502 ordinary shares, representing 30% of its issued share capital.
The final offer price was set at SAR 66 per share (US$17.58), placing the company’s market capitalization at SAR 3,387 million (US$903 million) at the time of listing.
The IPO attracted strong interest from both institutional and individual investors, with 90% of the shares allotted to institutional investors and 10% reserved for individual investors.
Ajlan Abdulaziz Alajlan, Chairman of Arabian Mills, expressed his excitement about the company’s public listing.
“Today marks a historic milestone for Arabian Mills as we begin our journey as a publicly traded company on the Saudi Exchange,” Alajlan stated.
He emphasized the company’s commitment to advancing the wheat flour industry in line with Saudi Arabia’s Vision 2030 goals.
“This achievement reflects our commitment to excellence, innovation, and our role in advancing the country’s wheat flour industry. With this listing, we are positioned to further strengthen our contributions to the economy, drive sustainable growth, and create long-term value for our shareholders, employees, and communities.”
Arabian Mills is a market leader in wheat flour production in the Gulf Cooperation Council (GCC) region, boasting the largest daily flour production capacity in Saudi Arabia.
The company currently produces 4,920 tonnes of flour and 600 tonnes of animal feed daily. With the second-largest market share in Saudi Arabia’s milling sector, Arabian Mills plays a vital role in the country’s food security initiatives.
Alajlan highlighted that Arabian Mills intends to use the funds from the IPO to fuel further expansion, including the development of new production sites and distribution centers.
The company is also looking to expand its product portfolio to meet the evolving needs of consumers in the region, leveraging its strong brand presence in the flour and animal feed sectors.
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