Fourth Milling planning IPO in 2024: Report

24/10/2023 Argaam
Logo ofFourth Milling Co.

Logo of Fourth Milling Co.

Fourth Milling Co. plans to launch an initial public offering (IPO) in 2024, Bloomberg reported, citing sources.

 

The Saudi milling company is working with Himmah Capital on the potential IPO, the report said, indicating that the company aims to raise more than $200 million from the offering.

 

Fourth Milling Co. was established in 2017, according to data available with Argaam. It specializes in the manufacture of flour, wheat derivatives and fodder.

 

Its branches in Dammam, Madinah and Al-Kharj are optimized as operational centers to cover all the Kingdom’s regions.

 

In 2021, the National Center for Privatization & PPP (NCP) and the Saudi Grains Organization (SAGO) announced the sale of Fourth Milling to an alliance that includes Al-Othaim Markets Co., Allana International Co., and United Feed Manufacturing Company (UFMC) at a value of SAR 859 million.

 

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