Alamar gets CMA nod to sell 41.70% stake in IPO

Logo of Alamar Foods Co.

Saudi Arabia’s Capital Market Authority (CMA) approved, today, June 7, the application filed by Alamar Foods Co. to float 10.63 million shares, representing 41.7% of its capital, in an initial public offering (IPO).

The company's prospectus will be published within sufficient time prior to the start of the subscription period, the market regulator said in a statement.

The application approval will be valid for six months from the CMA board resolution date. Accordingly, this approval will be deemed cancelled if the target listing is not completed within this period, the CMA added.

Headquartered in Saudi Arabia, Alamar is a master franchise operator for Domino's Pizza in the MENA region and Pakistan. The Carlyle Group owns 42% of Alamar’s shares.

On March 2, 2022, Alamar announced renewing its exclusive franchise agreement with Domino's Pizza, which owns 455 restaurants in the MENA region and Pakistan and has a franchise of Dunkin' Donuts in North Africa.

The Carlyle Group acquired 42% of Alamar in 2011 from Al Jammaz family of Saudi Arabia.

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