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Horizon Food issues prospectus for 20% IPO on Nomu
Logo of Horizon Food Co.
Horizon Food Co., a subsidiary of Tabuk Agricultural Development Co. (TADCO), issued today, Feb. 8, the prospectus to list 1.6 million shares on Nomu-Parallel Market.
The offer shares represent 20% of the company’s total SAR 80 million capital, divided into eight million shares.
The Capital Market Authority (CMA) approved, on Dec. 28, 2022, the application submitted by the company to float 1.6 million shares on Nomu.
The offer period will run from March 5-9.
In December 2018, TADCO announced the completion of acquiring a 50% stake in Al-Khalijia Investment for Foods Co.’s food business unit, Horizon Food.
Horizon Food was established in 2018 in Al-Khobar. Its main activity, as per its commercial register, is the production of chilled and frozen poultry, rabbits, and birds, along with chilled and frozen meat, sausages and hamburgers. This is besides cutting, processing and packaging of meat and poultry.
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Company Profile |
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|
Company |
Horizon Food Co. |
|
Market |
Nomu-Parallel Market |
|
Core Activities |
Production, processing, cutting and packaging of chilled and frozen meat and poultry |
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Capital |
SAR 80 mln |
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IPO Summary |
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Issue Percentage |
20% |
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Offer Shares |
1.6 mln |
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Minimum Limit |
10 shares |
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Maximum Limit |
399,990 shares |
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Subscription Period |
March 5-9, 2023 |
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Final Allocation |
March 14, 2023 |
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Refund (if any) |
March 22, 2023 |
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Company Shareholders |
||||
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Shareholders |
Pre-IPO |
Post-IPO |
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Number of Shares (mln shares) |
Ownership (%) |
Number of Shares (mln shares) |
Ownership (%) |
|
|
TADCO |
4.0 |
50% |
3.2 |
40% |
|
Ahmed bin Mohammed Al-Arfaj |
4.0 |
50% |
3.2 |
40% |
|
Qualifid Investors |
-- |
-- |
1.6 |
20% |
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Total |
8.0 |
100% |
8.0 |
100% |
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Additional Information |
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Financial Advisor |
Wasatah Capital |
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Lead Manager |
Al-Nefaie Investment Group (NIG) |
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