RIYADH: Fast-food chain operator Alamar Foods Co. will start trading its shares on the Saudi Exchange on Aug. 9, after a SR1.2 billion ($326 million) initial public offering, according to a bourse filing.
The company raised 42 percent of its capital, representing 10.6 million ordinary shares, in an initial share sale to join the Kingdom’s primary market TASI.
Following the bidding period and strong demand from investors, the IPO was priced at the top end of an indicative range of SR115.
Alamar is a fast-food restaurant franchiser of two globally recognized brands: Domino’s Pizza and Dunkin, with operations across 11 Middle Eastern, North African countries, and in Pakistan.
