Markets Saudi poultry producer to list 30% stake on Tadawul By Pramod Kumar January 30, 2025, 1:41 PM Pexels/Cottonbro Studio Entaj produces various poultry products, including fresh, frozen and cut-up chicken Poultry producer Arabian Company for Agricultural and Industrial Investment (Entaj), plans to list a 30 percent stake on the Saudi Exchange (Tadawul). The Capital Market Authority, the kingdom’s market regulator, approved the offering of 9 million shares on Tadawul in September 2024. The offering price will be set following the end of the institutional bookbuilding period. The net proceeds of the initial public offering will be distributed to the selling shareholders, with the company not receiving any part of the proceeds. Entaj produces various poultry products, including fresh, frozen and cut-up chicken. The company has a production capacity of 185 million birds annually, and has plans to expand its broiler farms and processing plants. Its daily production capacity is 600,000 birds. Saudi Arabia’s population is expected to grow from 33 million in 2023 to 37.7 million by 2028, the company said, adding that consumer spending will increase mainly in the food and beverage sector. Sales are projected to rise from SAR18.3 billion in 2023 to SAR26.7 billion by 2028, with sales volume expected to reach 1.22 million tonnes. Entaj achieved a compound annual revenue growth rate of 23 percent over the past three years, driven by strong demand for locally sourced poultry and supported by key government initiatives. Poultry remains the core of its business, contributing 97 percent of revenue, the company said. Almarai to increase poultry output by 35% One million users for Saudi Arabia’s Sahm trading app Nice One share price up 55% in first week of trading Since the start of 2024, there have been 14 IPOs in Saudi Arabia that raised more than $100 million, according to data compiled by AGBI and London Stock Exchange Group. Eleven of these companies were trading above their IPO price as of market close on January 12. Five more IPOs are have been approved for the Saudi exchange. They include Derayah Financial, which is reportedly planning a $2 billion listing, technology company Ejada Systems and property developer Umm Al Qura Development & Construction.