Arabian Company for Agricultural and Industrial Investment (Entaj), one of the leading poultry brands in Saudi Arabia, announced its intention to proceed with an initial public offering (IPO).
The company said it will get listed on the main market of the Saudi Exchange.
The announcement follows Entaj getting approval from the Saudi Capital Market Authority (CMA) in September 2024 for the sale of 9 million shares, accounting for 30 per cent of the company’s issued share capital.
The company said the offer price will be announced following the end of the institutional bookbuilding period.
Ziyad Al Sheikh, Vice Chairman of Entaj, said the intention to float on the Saudi Exchange is a defining moment for the company, marking the next phase of its growth.
“This IPO aligns with our commitment to support the Kingdom’s food security agenda, and it will allow us to invest further in our infrastructure and workforce to drive sustainable growth,” he said.
Raja M. Alharbi, CEO of the company said the public offer will provide the company with the resources to expand its production capacity, advance its distribution network, and enhance the product offerings to meet the growing demand for high-quality poultry across Saudi Arabia.
“We believe this is the right moment to share our vision with the public market, enhancing our visibility and access,” he said.
Entaj is one of the leading poultry producers in the Kingdom, delivering a wide range of high-quality poultry products, including fresh, frozen, and cut-up chicken, to retail and food service channels across the country.
The company, which has grown significantly following a strategic restructuring by ARASCO in 2021, now operates under the Arabian Company for Agricultural and Industrial Investment as a flagship brand in the food production sector.