Saudi Fransi Capital, the financial advisor, lead manager, book runner and underwriter for Tanmiah Food Company’s Initial Public Offering, has announced that July 27 is the date for subscription by individual investors to the Retail Tranche of Tanmiah’s IPO. The retail subscription period will last for one day only.
The Riyadh, Saudi Arabia-based company specializes in producing and marketing a wide range of fresh and frozen halal poultry products, in whole or in parts. The portfolio includes IQF chicken wings, buffalo wings, fajita chicken topping, chicken burgers and more.
Its Supreme Foods Processing Co (SFPC) unit produces a variety of added-value and cooked meats in three factories, two of which are located in the Kingdom of Saudi Arabia and one in the United Arab Emirates. The company’s delivery and distribution network is spread across the Middle East from Saudi and Kuwait to Bahrain, the UAE, Oman, Lebanon, Jordan and beyond.
SFPC’s added-value supplied frozen SKUs to the retail trade as well as items for the hospitality industry, including hotels and quick service restaurants. Among notable clients are KFC, Pizza Hut, Little Caesars, Subway and Dairy Queen.
Six million ordinary shares, representing 30% of the total shares of Tanmiah Food Company, were offered to institutional investors during the book building process, and 600,000 ordinary shares have been allocated to individual subscribers, representing 10% of the total offered shares, at a price of SAR 67 per share.
