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The National Agricultural Development Company (NADEC) Announces Approval by the Capital Market Authority for the Offering of 30% of the Shares of Arabian Mills for Food Products Company "a Company Invested In" for Initial Public Offering (IPO) on the Saudi Stock Exchange (Tadawul)
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| Announcement Detail | Referring to the announcement by the Saudi Capital Market Authority dated 18/12/1445H corresponding to 24/06/2024, NADEC announces the approval for the registration and public offering of 15,394,502 shares of Arabian Mills for Food Products Company, representing 30% of the company's total shares. NADEC holds a 14.87% stake in Arabian Mills for Food Products Company. The book value of NADEC's entire stake in Arabian Mills for Food Products Company, according to the latest financial statements for the first quarter of 2024, amounts to SAR 125,160,509. The offering and listing of the shares on the main financial market are subject to the approval of the Capital Market Authority, the fulfillment of the requirements stipulated by the relevant regulations and laws, and the completion of the procedures for registering and listing the shares. The financial impact cannot be accurately specified at this time as it depends on the valuation of Arabian Mills for Food Products Company and obtaining the necessary approvals from the competent authorities. The company will announce any future developments in this regard in due course. For any inquiries, please contact our Investor Relations Department at Telephone No: 0112027830 Email: IR@nadec.com.sa |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 21.06
Net Change -0.04 (-0.19%)
Value Traded (Sar) 12,457,101
Volume Traded 590,174
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