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SNB Capital Successfully Leads Advisory for Entaj’s SAR 450 million Market Debut IPO
SNB Capital has successfully completed its advisory services for the Initial Public Offering (IPO) of Arabian Company for Agricultural and Industrial Investment (Entaj), marking another milestone in Saudi Arabia’s capital markets.
The final share price was set at SAR 50 per share, raising a total of SAR 450 million (USD 120 million). A total of 9 million shares, representing 30% of Entaj’s share capital, were offered, with 90% allocated to institutional investors and the remaining 10% reserved for individual investors. Following a highly successful book-building process, institutional investors oversubscribed the offering by more than 208 times and retail investors by more than 30 times.
SNB Capital acted as financial advisor, lead manager and underwriter for the transaction.
Zaid Ghoul, Head of Investment Banking at SNB Capital commented: "The overwhelming response to Entaj’s IPO underscores the confidence investors have in Saudi Arabia’s capital markets, which offer dynamic growth opportunities. We are pleased to have provided our advisory services to Arabian Company for Agricultural and Industrial Investment (Entaj), which joins a growing client base that views SNB Capital as a trusted partner for strategic support and financial expertise. Whether through public or private offerings, debt financing advisory, mergers and acquisitions, or debt issuance, we remain committed to helping companies expand and achieve their ambitions.”
With a 7.6% share of the Kingdom’s poultry market, Entaj’s IPO contributes to expanding investment opportunities in the sector and enhancing its competitiveness.
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SNB Capital Announces Successful Closure of the Basic Foods Fund with a SAR 200 million Investment in Warda Al Mashreq Foods
SNB Capital has announced the successful closure of the private investment fund, SNB Capital Basic Foods Fund. The Shariah-compliant fund is designed to invest in Warda Al Mashreq Foods, one of the Kingdom’s leading food manufacturing companies, to support its readiness for an initial public offering (IPO) on the Saudi Stock.
The company produces a wide range of processed cheese and essential food products and has seen rapid growth in demand. It boasts an outstanding operational track record spanning over 30 years.
Warda Al Mashreq currently operates three factories in Riyadh, the capital of Saudi Arabia, and is in the process of establishing a fourth facility. This expansion positions the company competitively to enhance operational efficiency and increase production capacity, with a focus on export opportunities and regional growth in one of the most dynamic sectors.
Market estimates suggest that the company’s target food sector in the Middle East and Africa will grow from SAR 58.1 billion in 2023 to SAR 67.1 billion by 2028, driven by population growth and changing consumer behavior across the region.
The Basic Foods Fund reflects SNB Capital’s commitment to delivering carefully designed investment solutions that add value to client portfolios. The fund was structured to acquire a stake in a company with a clear expansion strategy and IPO readiness, leveraging SNB Capital’s expertise to transform it from a leading food manufacturer into a nationally listed entity.
SNB Capital and Aramco’s Wa’ed Ventures Sign a Strategic Partnership to enable Strategic Advisory and Investment Services
SNB Capital has signed a strategic partnership with Aramco’s venture capital fund Wa’ed Ventures; aiming to identify and collaborate on potential joint investment opportunities in the technology startup sector.
The partnership establishes a framework for strategic cooperation by combining SNB Capital’s market leading advisory expertise with Wa’ed Ventures’ investment capabilities, the partnership seeks to accelerate the growth of innovative startups, enable access to capital markets, and enhance investment flows.
Under the partnership, SNB Capital and Wa’ed Ventures will collaboratively identify potential investments that align with their shared strategic objectives, with SNB Capital acting as a financial advisor to Wa’ed Ventures and its subsidiaries across debt and equity capital markets, including mergers and acquisitions, debt structuring, and financing arrangements.
In addition, the partnership allows for the provision of specialized consultations and research, including legal, tax, and zakat advisory, to ensure the optimal structuring and execution of financial transactions.
Moreover, the partnership is set to accelerate the growth of innovative startups, unlock new streams of investment, and enable access to financing solutions to provide sustainable value to stakeholders as well as support the long-term growth for startups and entrepreneurs.
