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Saudi food company Tanmiah gets nod from regulator for share sale

By TRENDS Desk
June 9, 2021 6:32 am

     

    • Tanmiah Food Company has won approval from CMA to sell 30 percent of company shares

    • The food company employs 1500 people and is a major supplier of chicken products

    The Capital Market Authority (CMA) has given the go-ahead to Tanmiah Food Company for the listing of 30 percent of the company.

    The Riyadh-based company which employs more than 1500 people has grown to become a major supplier of chicken products and also operates a veterinary services unit and food processing business.

    Investor interest in the regional food production sector has grown this year as the pandemic helped to boost sales and governments encouraged more homegrown capacity to reduce reliance on imports as global supply chains were stretched. The CMA’s approval on the application is valid for six months.

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