Logo of Arabian Company for Agricultural & Industrial Investments (Entaj)
Arabian Company for Agricultural & Industrial Investments (Entaj) starts trading on the Main Market (TASI) today, March 17, under the symbol 2287 and ISIN Code SA1690P13NH3, at a price of SAR 50 per share.
The stock will trade in the first three days with daily and static price fluctuation limits of ±30% and ±10%, respectively. From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10%, while the static price fluctuation limits will no longer apply.
Entaj is the fourth listing on TASI in 2025 after Almoosa Health Co. on Jan. 7, Nice One Beauty Digital Marketing Co. on Jan. 8, and Derayah Financial Co. on March 10.
In 2024, 13 companies listed on Tadawul, in addition to Alistithmar AREIC Diversified REIT Fund.
Following Entaj listing, the number of companies listed on TASI reached 233, along with 19 real estate traded funds.
The company offered 9 million shares, or 30% of its capital, on TASI. It allocated 90% of the shares on offer to institutional investors, while the remaining 10% was set aside for retail investors.
The retail IPO was 30.2x covered, with retail requests of nearly SAR 1.4 billion.
Meanwhile, institutional IPO was 208.4x oversubscribed. A minimum of one share was allocated to each investor, while the remaining shares will be allocated on pro rata, with an average allocation factor of 1.5%.
Key background
Entaj began its poultry production business, ARASCO Foods, in 2004 and was officially established in 2011 as a limited liability company with a capital of SAR 50 million. ARASCO owned 99% of the company's shares upon its inception.
In 2021, ARASCO began transferring the entire poultry business and Entaj brand to the company.
The company was transformed into a closed joint-stock company in 2024.
Entaj’s current capital stands at SAR 300 million, divided into 30 million shares with a nominal value of SAR 10 per share. Its activities include poultry products, egg trays, red meat products, and cold storage facilities.
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Company Profile |
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Company |
Arabian Company for Agricultural & Industrial Investments (Entaj) |
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Core Activities |
Poultry products, egg trays and red meat products |
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Capital |
SAR 300 mln |
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Number of Shares |
30 mln |
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Share Par Value |
SAR 10 |
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Company Shareholders |
||||
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Shareholders |
Before IPO |
After IPO |
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Number of Shares (mln) |
Ownership (%) |
Number of Shares (mln) |
Ownership (%) |
|
|
ARASCO |
28.53 |
95.10 % |
19.53 |
65.10 % |
|
Ocean Line Marine Services Co.* |
1.47 |
4.90 % |
1.47 |
4.90 % |
|
Public |
-- |
-- |
9 |
30% |
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Total |
30.00 |
100 % |
30 |
100 % |
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ARASCO Ownership Structure |
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Owner |
No. of Shares in ARASCO (mln) |
Ownership Percentage in ARASCO |
Indirect Ownership in Entaj after Offering |
|
Mutlaq Saleh Al Hanaki |
23.06 |
35.47% |
24.83% |
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Abdullah Ibrahim AlKhorayef Sons Co. |
12.96 |
19.93% |
13.95% |
|
Mafaz International Development Co. |
8.06 |
12.39% |
8.67% |
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Abdullah Sulaiman Al-Rubaian |
5.29 |
8.13% |
5.69% |
|
Al Emar Agricultural Group Co. |
4.45 |
6.84% |
4.79% |
|
Sultan Holding Co. |
4.20 |
6.47% |
4.53% |
|
Multaqa Holding Co. |
3.66 |
5.64% |
3.95% |
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Abdulrahman Abdulaziz Al-Muhanna |
2.19 |
3.37% |
2.36% |
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Abdulmalik Abdullah Al-Hussaini |
0.65 |
1.00% |
0.70% |
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Sulaiman Mohammed Al-Qahidan |
0.20 |
0.30% |
0.21% |
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ARASCO Capital Share Co. |
0.30 |
0.46% |
0.32% |
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Total |
65.00 |
100% |
70.00% |
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