2005 News Story

Almarai to float shares for public subscription

The Ministry of Commerce and Industry has approved the conversion of Almarai Company Limited to a joint stock company with a capital of SR750 million [U.S. $200.27 million] divided into 15 million shares worth SR50 [$13.35] each. The initial public offering (IPO) will be launched as soon as permission is received from the Capital Markets Authority to float its shares for public subscription.

Almarai, headquartered in Riyadh, processes dairy products and is the Kingdom’s largest food exporter. The company, which employs 4,000 people, owns 45,000 head of cattle and has a production capacity of 1.4 million liters of milk per day.