Modern Mills issues prospectus to offer 30% stake on TASI

Logo of Modern Mills Co.

Modern Mills Co. announced its prospectus for offering 24.55 million shares, or a 30% stake, on Tadawul.

The Capital Market Authority (CMA) approved in December 2023 the company’s application to list on the main market.

The share sale for retail investors will run from March 5 to 6, 2024.

The company's current activity is the production, packaging and sale of flour products, its derivatives, animal feed and animal bran.

The company's activities, according to its commercial register, include practicing and implementing the following businesses: Wheat packing and milling, barley packing and milling, concentrated animal feed manufacturing, barley wholesale, bakery products wholesale, barley retail sale and land transport of goods.

*The company will own 818,320 treasury shares after the offering through the purchase of 687,390 shares, or 84% of the treasury shares, and a bonus distribution of 130,930 shares (16% of the treasury shares) from the selling shareholders, in conjunction with the completion of the IPO process for use within the employee stock option.