Abdullah Al Othaim Markets Company announced on Sunday the successful completion of the order book building process for participating categories in the shares of the Fourth Mills Company. The final share price has been set at SAR 5.30 per share.
The company expects the net proceeds from the IPO (after deducting offering expenses) to be approximately SAR 833 million for the selling shareholder, Gulf Flour Milling Industrial Company, in which Al Othaim Markets owns 33.3% of the capital. Al Othaim’s share of the capital gains from this IPO is estimated at SAR 160 million after zakat and tax.
According to the statement published on Tadawul, the financial impact is expected to be reflected in the fourth quarter of 2024. The IPO process for Fourth Mills Company is anticipated to be completed and listed on the main market in October 2024.
