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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.

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