Logo ofArabian Mills Co.
Arabian Mills Co.begins trading on the Saudi Exchange (Tadawul) today, Oct. 8, under the symbol 2285 and ISIN Code SA164H113MH2, at SAR 66 a share. 
The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively.
These fluctuation limits will be applied during the first three days of listing.
From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10% and the static price fluctuation limit will no longer apply.
This is the tenth listing on Saudi Arabia’s Main Market (TASI) in 2024.
Last year, TASI listed seven companies, including,Al Mawarid Manpower Co., Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma), Morabaha Marina Financing Co. (MRNA),First Milling Co.,Lumi Rental Co.,ADES Holding Co., andSAL Saudi Logistics Services Co., besides the listing ofAlinma Hospitality REIT Fund.
With this, the number of companies listed on TASI reached 223, excluding 18 real estate traded funds.
The company offered 15.39 million shares, or 30% of its capital at SAR 66 each. Retail investors were allocated 10% of total offered shares, and institutions were allocated 90%.
The retail offering was 9.2x covered with five shares minimum allocated per subscriber. The institutional offering was 132x covered.
Each retail investor received a minimum of five shares, while the remaining shares will be allocated pro rata, based on the demand size of every subscriber to total shares. The allotment ratio amounted to 1.71%.
Company Profile:
Arabian Mills —formerly known as Second Milling Company (MC2) —was established in October 2016 as part of the privatization program of Saudi Grains Organization, data available with Argaam showed.
In April 2021, the National Center for Privatization PPP (NCP) awarded the sale of Arabian Mills to the consortium of Ajlan Bros Holding Group (ABHG), Al Rajhi International for Investment (RAII), National Agricultural Development Co. (NADEC), and Olam International. This consortium submitted a bid totaling SAR 2.13 billion.
In December 2021, NADEC completed the transfer of all assets of MC2 to Food Security Holding Co., merging the two entities into Second Milling Co. ABHG acquired the entire stake of Olam International, while NADEC increased its ownership share to 14.9%.
The company was established to produce and provide wheat and feed products Kingdom-wide. Its main business activities include the production and storage of flour, other wheat derivatives and feed.
Company Profile
Company
Arabian Mills for Food Products Co.
Market
TASI
Core Activities
Production of flour products, its derivatives and animal feed
Capital
SAR 513.15 mln
Number of Shares
51.32 mln
Par Value
SAR 10/share
Major Shareholders
Shareholders
Pre-IPO
Post-IPO
Number of Shares
(mln)
Ownership
(%)
Number of Shares
(mln)
Ownership
(%)
ABHG
25.72
50.13%
18.01
35.09%
RAII
17.96
35.00%
12.57
24.50%
NADEC
7.63
14.87%
5.34
10.41%
Public
—
—
15.39
30.00%
Total
51.32
100%
51.32
100%
Logo ofArabian Mills Co.
Arabian Mills Co.begins trading on the Saudi Exchange (Tadawul) today, Oct. 8, under the symbol 2285 and ISIN Code SA164H113MH2, at SAR 66 a share.
The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively.
These fluctuation limits will be applied during the first three days of listing.
From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10% and the static price fluctuation limit will no longer apply.
This is the tenth listing on Saudi Arabia’s Main Market (TASI) in 2024.
Last year, TASI listed seven companies, including,Al Mawarid Manpower Co., Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma), Morabaha Marina Financing Co. (MRNA),First Milling Co.,Lumi Rental Co.,ADES Holding Co., andSAL Saudi Logistics Services Co., besides the listing ofAlinma Hospitality REIT Fund.
With this, the number of companies listed on TASI reached 223, excluding 18 real estate traded funds.
The company offered 15.39 million shares, or 30% of its capital at SAR 66 each. Retail investors were allocated 10% of total offered shares, and institutions were allocated 90%.
The retail offering was 9.2x covered with five shares minimum allocated per subscriber. The institutional offering was 132x covered.
Each retail investor received a minimum of five shares, while the remaining shares will be allocated pro rata, based on the demand size of every subscriber to total shares. The allotment ratio amounted to 1.71%.
Company Profile:
Arabian Mills —formerly known as Second Milling Company (MC2) —was established in October 2016 as part of the privatization program of Saudi Grains Organization, data available with Argaam showed.
In April 2021, the National Center for Privatization PPP (NCP) awarded the sale of Arabian Mills to the consortium of Ajlan Bros Holding Group (ABHG), Al Rajhi International for Investment (RAII), National Agricultural Development Co. (NADEC), and Olam International. This consortium submitted a bid totaling SAR 2.13 billion.
In December 2021, NADEC completed the transfer of all assets of MC2 to Food Security Holding Co., merging the two entities into Second Milling Co. ABHG acquired the entire stake of Olam International, while NADEC increased its ownership share to 14.9%.
The company was established to produce and provide wheat and feed products Kingdom-wide. Its main business activities include the production and storage of flour, other wheat derivatives and feed.
Company Profile
Company
Arabian Mills for Food Products Co.
Market
TASI
Core Activities
Production of flour products, its derivatives and animal feed
Capital
SAR 513.15 mln
Number of Shares
51.32 mln
Par Value
SAR 10/share
Major Shareholders
Shareholders
Pre-IPO
Post-IPO
Number of Shares
(mln)
Ownership
(%)
Number of Shares
(mln)
Ownership
(%)
ABHG
25.72
50.13%
18.01
35.09%
RAII
17.96
35.00%
12.57
24.50%
NADEC
7.63
14.87%
5.34
10.41%
Public
—
—
15.39
30.00%
Total
51.32
100%
51.32
100%
