Al Watania Poultry owners mull business sale: Report

04:20 PM (Mecca time) Argaam
Logo ofAl Watania Poultry Co.

Logo of Al Watania Poultry Co.

Al Watania Poultry Co.’s owners are considering selling the company, Bloomberg reported, citing unnamed sources.

 

The company appointed Saudi Fransi Capital as an advisor for the sale process, with the deal’s estimated value projected at SAR 2 billion, the sources added.

 

However, specifics about the transaction - whether it will involve a full sale, a partial stake sale, or a stake offering through an initial public offering (IPO) – were not given.

 

Media reports in 2015 and 2016 suggested plans for the company to go public on the Saudi stock exchange, according to data with Argaam.

 

Al Watania Poultry was established in 1977 by Sulaiman Al Rajhi, a Saudi businessman.

 

The company has a production capacity of up to one million chickens and 1.5 million eggs per day.

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