Tanmiah Food Co.
Tanmiah Food Co. starts trading on the Saudi Exchange (Tadawul) today, Aug. 4, with the symbol 2281, under the Food & Beverages sector.
Daily price fluctuation limits will be set at ±30%, while static price fluctuation limits will be ±10%.
These fluctuation limits will be applied during the first three days of listing. The daily price fluctuation limits will revert to ±10% and the static price fluctuation limits will no longer apply from the fourth trading day onwards.
Tanmiah Food’s listing is the third on the market this year, following the IPOs of Alkhorayef Water and Power Technologies Co. on March 1 and Theeb Rent a Car Co. on March 29.
The Saudi market saw three IPOs in 2020, namely Dr. Sulaiman Al-Habib Medical Services Group (March), Amlak International for Real Estate Finance Co. (July), and BinDawood Holding Co. (October).
With the listing of Tanmiah Food, the number of listed companies reach 187, excluding the 17 real estate investment traded funds (REITs).
The company floated six million shares, representing 30% of its capital, at SAR 67 per share. It allocated 90% of offered shares for institutional investors, with a coverage ratio of 9,534%.
Tanmiah Food offered 10% of total offered shares to retail investors, with a coverage ratio of 1,170%. The number of subscribers amounted to 69,600 who pumped SAR 470.53 million.
Company Info:
Tanmiah Food was established as a closed joint stock company in March 2019 in Riyadh. The company's capital, currently, stands at SAR 200 million.
The company's main activities are represented in the production and sale of fresh poultry, processing and sale of poultry and meat products, production and sale of animal feed, broiler chicks, hatching broiler eggs, animal health products, and other integrated projects to produce poultry, along with other poultry equipment.
The company manages 84 farms, including 83 leased ones and six places for hatching eggs, as well as a feed plant in Saudi Arabia, two slaughterhouses, three food processing plants, and 13 dry and chilled storage facilities in Saudi Arabia, Bahrain and the UAE.
Tanmiah Food sells its products in seven countries through a network of distributors, wholesalers and retailers.
|
Details of Affiliates |
||||
|
Company |
Country |
Capital (SAR mln) |
Direct Ownership |
Indirect Ownership |
|
Agricultural Development Co. |
Saudi Arabia |
20.00 |
100% |
-- |
|
Desert Hills Veterinary Services Co. Ltd. |
Saudi Arabia |
1.00 |
100% |
-- |
|
Supreme Foods Processing Co. |
Saudi Arabia |
8.63 |
100% |
-- |
|
Perfect Foods Factory |
UAE |
20.76 |
4% |
96% |
|
Tanmiah International |
UAE |
3.11 |
4% |
96% |
|
Supreme Foods Co. Ltd. |
Bahrain |
0.025 |
-- |
100% |
|
Company Profile |
|
|
Company |
Tanmiah Food Co. |
|
Market |
Saudi Exchange (Tadawul) |
|
Core Activities |
- Production and sale of fresh poultry - Processing of poultry and other meat products - Producing and selling animal feed, broiler chicks, hatching eggs, and animal health products. The company also implements comprehensive poultry and greenhouse projects. |
|
Capital |
SAR 200 mln |
Al-Dabbagh Group Holding will be the largest shareholder in the company after the IPO, with a 70% stake.
|
Company Shareholders |
||
|
Shareholders |
After IPO |
|
|
Number of Shares (mln) |
Ownership |
|
|
Al-Dabbagh Group Holding |
14.00 |
70% |
|
Tanmiah Commercial Group |
-- |
-- |
|
Public |
6.00 |
30% |
|
Total |
20.00 |
100% |
Comments
{{DisplayName}}
{{ElapsedTime}}