Horizon Food debuts on Nomu today as eighth listing of 2023

Logo of Horizon Food Co.

Horizon Food Co., affiliated to Tabuk Agriculture Development Co. (TADCO), will begin trading on Nomu-Parallel Market today, March 26, with the symbol 9564 and ISIN Code: SA15PGIKLE15, at SAR 37/share.

Shares will trade with +/- 30% daily price fluctuation limits and +/- 10% static price fluctuation limits. 

The Capital Market Authority (CMA) approved, on Dec. 28, 2022, the application received from the company to float its shares on Nomu.

Horizon Food offered 1.2 million ordinary shares, representing 20% of its share capital, at SAR 37 per share. The initial public offering (IPO) was 103.13% covered.

This is the eighth listing on Nomu in 2023, bringing the total to two direct listings and six offerings to qualified investors.

Nomu witnessed IPOs of 32 companies last year, divided into 13 direct listings and 18 offerings to qualified investors, in addition to one REIT.

Horizon Food’s listing will bring the total number of companies on Nomu to 53, in addition to Alwaha REIT Fund.

Company Profile:

Horizon Food, a closed Saudi joint-stock company, was established in 2018 as a limited liability company based in Al-Khobar.

Its capital stands at SAR 80 million, divided into eight million shares.

Its main activity, as per its commercial register, is the production of chilled and frozen poultry, rabbits, and birds, along with chilled and frozen meat, sausages and hamburgers. This is besides cutting, processing and packaging of meat and poultry.

The company owns a plant that specializes in producing seasoned ready-made shawarma skewers. It includes three sections for chicken shawarma, a beef shawarma section and one for doner kebab.

Located in Dammam Third Industrial City, Eastern Region, the latter modern food plant is well-equipped for manufacturing operations.

On Dec. 18, 2018, TADCO completed the acquisition of 50% of Al-Khalijia Investment for Foods Co.’s food business unit, Horizon Food.