SALIC eyes IPO within three years: CEO

Sulaiman Al-Rumaih, CEO of Saudi Agricultural and Livestock Investment Co. (SALIC)

Sulaiman Al-Rumaih, CEO of Saudi Agricultural and Livestock Investment Co. (SALIC), said the company aims to prepare for an initial public offering (IPO) within two to three years, either on the Saudi market or through a dual listing on other exchanges.

Speaking to Al Eqtisadiah, Al-Rumaih said SALIC focuses on creating value and strengthening business sustainability, emphasizing that the current objective is not the listing itself, but rather preparing the company operationally and from a governance perspective for a future IPO.

He also noted that SALIC’s acquisition of an additional stake in Olam Agri represents a strategic investment aimed at enhancing integration between the company’s domestic and international food-sector investments.

The CEO added that SALIC acquired a 35% stake in Olam Agri around three years ago, while the latest transaction increased its ownership to 80% through an investment of nearly SAR 7 billion.

The investment, according to Al-Rumaih, is considered strategic because it serves as a link connecting SALIC’s various local and global investments, both in terms of food sourcing and distribution and consumption mechanisms within Saudi Arabia and several target markets.

He added that there is significant integration between SALIC’s investments in Ukraine and Olam Agri, particularly as the Black Sea region is viewed as a strategic target area within the company’s overseas food investment plans.

The integration also extends to the local market through supplying commodities to SABIL and National Grains Co., and then distributing them to the private sector within Saudi Arabia. This contributes to the availability of essential commodities, especially grains used as livestock feed, at competitive prices.

The CEO stressed that SALIC’s business model is based on reducing intermediary layers by importing commodities directly from their sources through group-owned companies, then efficiently delivering them to local firms and ultimately to end consumers.

This model enables manufacturers and consumers to focus on developing production chains and achieving greater operational efficiency, supporting supply stability and enhancing market competitiveness.

SALIC was established in 2009 as a wholly owned subsidiary of Public Investment Fund. The company aims to strengthen Saudi Arabia’s food security through investments in agriculture and livestock production both domestically and internationally. It operates across grains, feed, meat, and global food supply chains.