Alamar retail subscription starts to 1.06 mln shares today, marks Tadawul’s 9th IPO in 2022

Logo of Alamar Foods Co. 

Retail investors start today, July 20, subscription to 1.06 million shares of Alamar Foods Co., or 10% of total shares offered, at SAR 115 each, set by the book-building process. 

The Capital Market Authority (CMA) approved, on June 7, the application filed by Alamar to float 10.63 million shares, representing 41.7% of its capital, in an initial public offering (IPO).  

 The two-day offering will end tomorrow, July 21. 

The institutional offering ended last week and was 47.5x covered. 

This will be the ninth listing on the main market this year, after East Pipes Integrated Company for Industry on Jan. 24, Scientific & Medical Equipment House Co. on Jan. 31, Elm Co. on Feb. 3, Al-Dawaa Medical Services Co. on Feb. 27, Al Masane Al Kobra Mining Co. (AMAK) on March 9, Nahdi Medical Co. on March 13, Saudi Home Loans Co. (SHL) on March 27 and Retal Urban Development Co. on June 5. 

Last year witnessed nine listings, including Alkhorayef Water and Power Technologies Co., Theeb Rent a Car Co., Tanmiah Food Co, Arabian Internet and Communications Services Co. (solutions), ACWA Power, Arabian Contracting Services Co., Nayifat Finance Co., Saudi Tadawul Group and Almunajem Foods Co. 

Company Profile: 

In 1985, the company made a debut as a branch of Al Jammaz Corporation, under the name Supply Services Corporation. In 1998, it converted from a sole proprietorship to a limited liability company, with SAR 62 million capital.

In 2012, Alamar converted into a closed joint-stock company, increasing its capital several times since inception to reach SAR 255 million currently. 

The core activities of the company, according to its articles of association, are table service restaurants and fast-food activities, including pizza stores. 

Alamar is the exclusive franchiser and operator of the Domino's Pizza brand in the Middle East, North Africa and Pakistan, in addition to the Dunkin' brand in Egypt and Morocco.  

The company has 14 branches all over the Kingdom, through which it runs 275 Domino’s stores, of which 28 are managed by a sub-franchisor in Makkah and Taif. The company further owns four warehouses in Riyadh. 

Subsidiaries:

Alamar runs 12 subsidiaries in Saudi Arabia, UAE, Egypt, Morocco, Qatar, Bahrain, Kuwait, Oman, Lebanon and Jordan, as follows:

** Indirect ownership by Alamar Foods Bahrain

After IPO, Abdulaziz Ibrahim Al Jammaz & Brothers Co. will be a major shareholder in Alamar at 57.12%. The company’s major shareholders are as follows: