Horizon Food gets CMA approval to float 1.6 mln shares on Nomu

Horizon Food Company obtained the Capital Market Authority’s (CMA) approval to float 1.6 million shares on Nomu-Parallel Market, according to a statement today, Dec. 28.

This represents 20% of the company’s share capital.

The offering will be confined to qualified investors stipulated in the glossary of defined terms used in the regulations and rules of the CMA.

The prospectus will be published within sufficient time prior to the start of the offering.

The approval is effective six months from the CMA’s resolution date. It will be deemed canceled if the offering and listing of the company's shares are not completed within this period.

Tabuk Agricultural Development Co. (TADCO) announced, in July 2021, that its 50%-owned subsidiary Horizon Foods Ltd. Co. appointed, on July 11, Wasatah Capital as financial advisor to list its shares on the Nomu-Parallel Market. 

In December 2018, TADCO completed the acquisition of a 50% stake in Horizon Foods for SAR 31.1 million, according to data available with Argaam. 

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