{"id":4873,"date":"2024-10-01T12:04:57","date_gmt":"2024-10-01T09:04:57","guid":{"rendered":"https:\/\/sahfy.net\/news\/?p=4873"},"modified":"2024-10-01T12:41:08","modified_gmt":"2024-10-01T09:41:08","slug":"arabian-company-for-agricultural-and-industrial-investment-entaj-receives-cma-approval-for-its-initial-public-offering-on-the-saudi-exchange","status":"publish","type":"post","link":"https:\/\/sahfy.net\/news\/?p=4873&lang=en","title":{"rendered":"Entaj Receives CMA Approval for its Initial Public Offering on the Saudi Exchange"},"content":{"rendered":"<p><span style=\"font-weight: 400\">\u00a0The Arabian Company for Agricultural and Industrial Investment (\u201cEntaj\u201d) is pleased to announce that the Capital Market Authority (<\/span><b>\u201cCMA\u201d<\/b><span style=\"font-weight: 400\">) has granted approval for the registration and initial public offering (<\/span><b>\u201cIPO\u201d<\/b><span style=\"font-weight: 400\">) of it shares on the Main Market of the Saudi Exchange (Tadawul).\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This approval, dated <\/span><b>27\/3\/1446H<\/b><span style=\"font-weight: 400\"> (corresponding to <\/span><b>30\/09\/2024G)<\/b><span style=\"font-weight: 400\">, facilitates the offering of 9,000,000 shares, representing 30% of the Company\u2019s total issued share capital. Entaj\u2019s prospectus detailing information on financial statements, operational activities, risks and the management will be published prior to the start of the subscription period.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The CMA approval is valid for 6 months from the approval date by the CMA\u2019s Board. Further information regarding the CMA\u2019s rules on approval, can be found <\/span><a href=\"https:\/\/cma.org.sa\/en\/Market\/NEWS\/Pages\/CMA_N_3638.aspx\"><b>here<\/b><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In connection with the IPO, SNB Capital has been appointed as the Financial Advisor, Lead Manager, Bookrunner and Underwriter.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Commenting on the approval, Eng. Raja Alharbi, Chief Executive Officer said: \u201cWe are delighted to receive the approval from the CMA<\/span> <span style=\"font-weight: 400\">to proceed with our initial public offering. This milestone marks an important step in Entaj\u2019s journey toward expanding our presence in the Saudi Arabian market and beyond.<\/span> <span style=\"font-weight: 400\">As one the leading players in the poultry and food production sector, this IPO will allow us to further invest in innovation, increase our production capabilities, and enhance our distribution networks to meet growing consumer demand.<\/span> <span style=\"font-weight: 400\">We remain committed to delivering sustainable value to our investors and contributing to the development of the Kingdom\u2019s economy in line with Vision 2030.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Entaj was established 2004G as the brand of ARASCO Foods and is one of the most prominent poultry producers in the Kingdom of Saudi Arabia. Arabian Agricultural Services Company (\u201cARASCO\u201d) established Arabian Company for Agriculture and Industrial Investment on [24\/11\/1432H] as a [Limited liability company] to invest in agricultural activities in the Kingdom and transferred its entire poultry business (along with the \u201cEntaj\u201d) brand to the Company.<\/span><\/p>\n<p><span style=\"font-weight: 400\">For more information, please visit the CMA\u2019s website (<\/span><a href=\"blank\"><span style=\"font-weight: 400\">www.cma.org.sa<\/span><\/a><span style=\"font-weight: 400\">) and Entaj\u2019s website (<\/span><span style=\"font-weight: 400\">www.entaj.com<\/span><span style=\"font-weight: 400\"> ), where the IPO prospectus will be published in due course.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0The Arabian Company for Agricultural and Industrial Investment (\u201cEntaj\u201d) is pleased to announce that the Capital Market Authority (\u201cCMA\u201d) has granted approval for the registration and initial public offering (\u201cIPO\u201d) of it shares on the Main Market of the Saudi Exchange (Tadawul).\u00a0\u00a0 This approval, dated 27\/3\/1446H (corresponding to 30\/09\/2024G), facilitates the offering of 9,000,000 shares, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":4875,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[63,91,39,130,43,87,15,3714],"tags":[6217,6195,6203,6193,6199,220,6205,1256,6197,6201],"class_list":["post-4873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agriculture-en","category-arab-countries-en","category-business-economy-en","category-featured-en","category-finance-investment-en","category-gcc-en","category-press-releases","category-saudi","tag-approval","tag-arabian-company-for-agricultural-and-industrial-investment","tag-eng-raja-alharbi","tag-entaj","tag-initial-public-offering","tag-saudi-arabia","tag-snb-capital","tag-tadawul","tag-the-capital-market-authority","tag-the-saudi-exchange"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6.1 - 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