Skip to content Skip to Search
Skip navigation

Fourth Milling to offload 30% in IPO on Saudi bourse

Saudi Arabia's Fourth Milling Company operates factories in Riyadh, Medina and the Eastern Region Reuters/Mohamed Abd El Ghany
Saudi Arabia's Fourth Milling Company operates factories in Riyadh, Medina and the Eastern Region

Saudi Arabia’s market regulator has approved the flotation of another milling company on the local bourse.

Fourth Milling Company (MC4) will sell 162 million shares, or 30 percent of its share capital, through an initial public offering (IPO).

The approval is valid for six months and will be deemed cancelled if the offering and listing process is not completed within the granted period.

In 2021, MC4 was sold to a consortium comprising Al Othaim Markets, Allana International and United Feed Manufacturing Company for SAR859 million ($229 million) under the kingdom’s privatisation programme.

The mill operates factories in Riyadh, Medina and the Eastern Region, producing flour, feed, bran and diverse wheat derivatives. It has a daily milling capacity of 3,150 metric tonnes of wheat grains and 450 tonnes of animal feed.

This week, the market regulator approved the IPO of Arabian Mills for Food Products.

The First Mills Company was privatised in Saudi Arabia in 2020 when it was sold to AlRaha AlSafi Food Company-consortium for $540 million.

The consortium was led by Saudi Arabian company Almutlaq Group, including AlSafi Holding Company, Abunayyan Holding and UAE’s Essa Al-Ghurair Investment.

Latest articles

Saudi inflation June 2024. Clothing and footwear prices in Saudi Arabia were down 3.2 percent year on year in June, and 0.2 percent month on month

Non-oil discounting brings Saudi inflation down

Saudi Arabia’s year-on-year consumer inflation rate fell to a low of 1.5 percent as non-oil businesses competed over prices but the wholesale price index remained at a high of 3.2 percent, reflecting high prices globally.  The consumer price index was down from 2.7 percent in June 2023. The CPI was also down from the 1.6 […]

hasan al fardan

Fintechs having ‘no impact’, says remittances CEO

Fintechs are no threat to the UAE-based remittances company Al Fardan Exchange, its CEO Hasan Al Fardan has declared. Al Fardan said there was no intention to drop fees to compete with finance technology startups. To date, he said, fintechs have had “no material impact on our business or our operations. We are hitting record […]

Almost 300,000 European visitors contributed to Oman's hotel revenues growing by more than 10 percent

Oman hotel revenues increase more than 10%

Hotel revenues across Oman were up by more than 10 percent in the first five months of 2024, fuelled by an increasing number of Asian and European visitors to the sultanate. Three-to-five star hotels reported revenues of OR108 million ($281 million) at the end of May, the latest data from the National Centre for Statistics […]

Saudi fishing trawlers

Saudi fishing industry bolstered by support plan

Saudi Arabia’s fishing industry has landed a financial support programme from the government as part of plans to develop and safeguard the sector. Fish production in the kingdom increased 80 percent in 2023 year on year to 214,600 metric tonnes. The goal is to increase that by 7 percent to 230,000 tonnes this year. The […]