RIYADH: Abdulaziz & Mansour Ibrahim AlBabtain Co. plans to proceed with an initial public offering to list its shares on the parallel market.
The company, which is known as AlBabtain Food, plans to offer 544,000 ordinary shares, which is 16 percent of its capital, according to a bourse filing.
The Saudi Exchange gave its green light for the company’s request to list on Nomu last year, while on Jun. 29, the Capital Markets Authority Approved the listing.
The offering price will be determined after the book-building period, which will run from Sept. 25-28.
AlBabtain Food is one of the region’s leading wholesalers of food and beverages.