Saudi flour milling company Arabian Mills sells out $271m IPO in an hour due to strong investor interest.
Arabian Mills for Food Products Co., a Saudi flour milling company, rapidly sold out its $271 million IPO within an hour, reflecting robust investor interest. The company will offer a 30% stake, with pricing between SAR62 and SAR66 per share. The subscription period runs from September 1-5, with shares expected to list on the Saudi Exchange afterward. Strong IPO activity in Saudi Arabia is anticipated to continue through 2024, following a busy first half.
September 01, 2024
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