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29-09-21
Saudi Arabia’s Almunajem plans for initial public offering
(MENAFN) Saudi Arabia’s Almunajem Foods that is specialized in the importing, marketing, and distributing of frozen, chilled, and dried food plans for an initial public offering after it got regulatory consent.
The Capital Market Authority (CMA) approved the company to put on the market 18 million shares or 30 percent of its capital in an IPO.
The company supplies foodstuffs to over 22,000 outlets, including retail, food services, and wholesale channels. It has 13 branches across the Kingdom.
In addition; it follows other major companies in the Kingdom who have already initiated their IPO processes, such as ‘solutions by stc’ and ACWA Power.
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