News & Announcements

NADEC

25 June, 2024 08:47

The National Agricultural Development Company (NADEC) Announces Approval by the Capital Market Authority for the Offering of 30% of the Shares of Arabian Mills for Food Products Company "a Company Invested In" for Initial Public Offering (IPO) on the Saudi Stock Exchange (Tadawul)

Element List	Explanation
Announcement Detail	Referring to the announcement by the Saudi Capital Market Authority dated 18/12/1445H corresponding to 24/06/2024, NADEC announces the approval for the registration and public offering of 15,394,502 shares of Arabian Mills for Food Products Company, representing 30% of the company's total shares. NADEC holds a 14.87% stake in Arabian Mills for Food Products Company. The book value of NADEC's entire stake in Arabian Mills for Food Products Company, according to the latest financial statements for the first quarter of 2024, amounts to SAR 125,160,509. The offering and listing of the shares on the main financial market are subject to the approval of the Capital Market Authority, the fulfillment of the requirements stipulated by the relevant regulations and laws, and the completion of the procedures for registering and listing the shares. The financial impact cannot be accurately specified at this time as it depends on the valuation of Arabian Mills for Food Products Company and obtaining the necessary approvals from the competent authorities. The company will announce any future developments in this regard in due course. For any inquiries, please contact our Investor Relations Department at Telephone No: 0112027830 Email: IR@nadec.com.sa

Element List

Explanation

Announcement Detail

Referring to the announcement by the Saudi Capital Market Authority dated 18/12/1445H corresponding to 24/06/2024, NADEC announces the approval for the registration and public offering of 15,394,502 shares of Arabian Mills for Food Products Company, representing 30% of the company's total shares. NADEC holds a 14.87% stake in Arabian Mills for Food Products Company. The book value of NADEC's entire stake in Arabian Mills for Food Products Company, according to the latest financial statements for the first quarter of 2024, amounts to SAR 125,160,509. The offering and listing of the shares on the main financial market are subject to the approval of the Capital Market Authority, the fulfillment of the requirements stipulated by the relevant regulations and laws, and the completion of the procedures for registering and listing the shares. The financial impact cannot be accurately specified at this time as it depends on the valuation of Arabian Mills for Food Products Company and obtaining the necessary approvals from the competent authorities. The company will announce any future developments in this regard in due course. For any inquiries, please contact our Investor Relations Department at Telephone No: 0112027830 Email: IR@nadec.com.sa

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