Tanmiah Food issues prospectus to float 6 mln shares on Tadawul

Logo of TANMIAH

Tanmiah Food Co. (TANMIAH) issued today, June 23, a prospectus for its initial public offering (IPO) on the Saudi Exchange (Tadawul).

The company will sell 6 million shares, or 30% of its 20 million share capital to the public. The one-day retail offering will run on July 27.

Earlier in June, the Capital Market Authority (CMA) approved the listing of a 30% stake, or 6 million shares, of Tanmiah Food Co. on Tadawul,

The IPO targets two tranches:

Participating parties: This tranche comprises all categories of investors entitled to participate in the book-building process, including investment funds, qualified foreign investors and companies, Gulf corporate investors and legal personalities.

A total of 6 million shares or 100% of the offering size will be allocated to institutional investors, subject to a scale-back to 90% or 20.57 million shares.

Retail investors: This tranche comprises Saudi nationals, including Saudi female divorcees or widows with minor children from a non-Saudi father. It also includes any non-Saudi natural person who is a resident in the Kingdom and any GCC national, who holds a bank account with one of the receiving entities.

Up to 10% of the offering size, or 600,000 shares, will be allocated to this tranche.

Company’s Profile
Company	Tanmiah Food Co. (TANMIAH)
Market	Main Market
Main activities	_ The production and sale of fresh poultry Processing and sale of poultry and meat products Production and sale of animal feed, broiler chicks, hatching broiler eggs, animal health products, and other integrated projects to produce poultry, along with other poultry equipment
Capital	SAR 200 mln

IPO Summary
Issue percentage	30%
Number of shares offered	6 mln
Qualified subscribers	-Participating categories that include investment funds, QFIs, legal entities and GCC investors. -Retail investors.
IPO minimum size for retail investors	10 shares
IPO minimum size for participating categories	100,000 shares
IPO maximum size for retail investors	250,000 shares
IPO maximum size for institutional investors	999999 shares
Registering requests and book building period	June 27 – July 1
Retail offering period (one day)	Tuesday, July 27
Final allocation of IPO shares	Aug. 2, 2021
Surplus refund	Aug. 4, 2021

Company’s Shareholders
Shareholders	Before IPO		After IPO
Shareholders	No. of shares (mln)	Ownership	No. of shares (mln)	Ownership
Al-Dabbagh Group Holding	19.20	96%	14.00	70%
Tanmiah Commercial Group	0.80	4%	--	--
Public	--	--	6.00	30%
Total	20.00	100%	20.00	100%

Additional Information
Financial advisor, lead manager, underwriter and book runner	Saudi Fransi Capital
Receiving banks	Banque Saudi Fransi

earlier reported.

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