Arabian Agricultural Investments gets CMA approval to float 9M shares on TASI

30/09/2024 Argaam
Logo of the Capital Market Authority (CMA)

Logo of the Capital Market Authority (CMA)

Arabian Company for Agricultural & Industrial Investments obtained the approval of the Capital Market Authority (CMA) to register and float nine million shares, representing 30% of the company's 30 million share capital, on the Main Market (TASI). 

 

The initial public offering (IPO) prospectus will be published within sufficient time prior to the start of the subscription period, the market regulator said in a statement today, Sept. 30. 

 

For More IPOs

 

The approval will be valid for six months from the CMA resolution date. It will be deemed cancelled if the offering and listing of the company's shares are not completed within this period.

 

The company started investing in poultry production as a business unit, named ARASCO Foods, in 2004. Its annual production capacity exceeded 90 million birds.

 

The company's Chairman is Badr Al-Awjan, while the CEO is Rajaa Al-Harbi.

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