Saudi CMA approves IPOs of Entaj and Almoosa Health
Both companies will provide a 30 per cent free float, with approval valid for six months
Dubai: The Saudi Capital Market Authority (CMA) approves two initial public offering (IPO) for the Tadawul main market as interest in the pipeline continues to grow.
The Arabian Company for Agricultural and Industrial Investment, known for its poultry brand Entaj, has been granted permission to offer 9 million shares. Almoosa Health Company has received approval for an offer of 13.3 million shares.
Both companies will provide a 30 per cent free float, with approval valid for six months.
Entaj has chosen SNB Capital to manage its offering. The company is one of the largest poultry producers in Saudi Arabia, with an annual capacity of 90 million birds.
Almoosa Health operates two hospitals in the eastern Al Ahsa region, offering a total of 800 beds. Additionally, two more hospitals are being built in Al Khobar and Al Hofuf, with planned capacities of 400 and 200 beds, respectively. The company also runs pharmacies and Almoosa College of Health Sciences.
Saudi Fransi Capital has reportedly been appointed to oversee Almoosa’s offer, as reported by the source of fixed income, capital markets and investment banking news, analysis, and commentary, IFR.