Horizon Food issues prospectus for 20% IPO on Nomu

08/02/2023 Argaam
Logo ofHorizon Food Co.

Logo of Horizon Food Co.


Horizon Food Co., a subsidiary of Tabuk Agricultural Development Co. (TADCO), issued today, Feb. 8, the prospectus to list 1.6 million shares on Nomu-Parallel Market.

 

The offer shares represent 20% of the company’s total SAR 80 million capital, divided into eight million shares.

 

The Capital Market Authority (CMA) approved, on Dec. 28, 2022, the application submitted by the company to float 1.6 million shares on Nomu.

 

The offer period will run from March 5-9.

 

In December 2018, TADCO announced the completion of acquiring a 50% stake in Al-Khalijia Investment for Foods Co.’s food business unit, Horizon Food.

 

Horizon Food was established in 2018 in Al-Khobar. 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.

 

Company Profile

Company

Horizon Food Co.

Market

Nomu-Parallel Market

Core Activities

Production, processing, cutting and packaging of chilled and frozen meat and poultry

Capital

SAR 80 mln

 

IPO Summary

Issue Percentage

20%

Offer Shares

1.6 mln

Minimum Limit

10 shares

Maximum Limit

399,990 shares

Subscription Period

March 5-9, 2023

Final Allocation

March 14, 2023

Refund (if any)

March 22, 2023

 

Company Shareholders

Shareholders

Pre-IPO

Post-IPO

Number of Shares

(mln shares)

Ownership (%)

Number of Shares

(mln shares)

Ownership (%)

TADCO

4.0

50%

3.2

40%

Ahmed bin Mohammed Al-Arfaj

4.0

50%

3.2

40%

Qualifid Investors

--

--

1.6

20%

Total

8.0

100%

8.0

100%

 

Additional Information

Financial Advisor 

Wasatah Capital

Lead Manager

Al-Nefaie Investment Group (NIG)

 
 

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