Al Othaim’s MC4 names financial advisor for stake sale on TASI

04/01/2024 Argaam
Logo ofMilling Co. 4 (MC4)

Logo of Milling Co. 4 (MC4)

Abdullah Al Othaim Markets Co. (Al Othaim) said that its affiliate, Milling Co. 4 (MC4), appointed a financial advisor to sell part of its shares to the public in the Saudi Exchange (Tadawul).  

 

Al Othaim indirectly owns 33.33% of MC4. In mid-2021, MC4 was sold to a consortium of investors in a public tender offered by the National Center for Privatization & PPP (NCP), the supermarket chain said in a statement to Tadawul.

 

The share sale is subject to the approval of the Capital Market Authority (CMA), and satisfaction of the relevant regulatory requirements.

 

Al Othaim added that it is currently difficult to estimate the financial impact as it depends on the valuation of MC4.

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