Logo of Modern Mills Co.
The lock-up was imposed on major shareholders owning 70% of the company’s capital. It continued for six months, starting from the date of stock debut on Tadawul.
According to its license from the General Food Security Authority (GFSA), Modern Mills cannot alter its ownership structure or change control of any shareholders holding more than 5% of its capital without prior approval from the Authority.
Additionally, the approval of the Capital Market Authority (CMA) must be secured to lift this restriction.
The current shareholders have committed to Alinma Bank to retain a minimum 51% direct and indirect ownership of their total equity in the company for 15 years, starting from the date of the financing agreement in 2023.
|
Major Shareholders |
||
|
Shareholders |
Post-IPO |
|
|
Number of Shares (mln) |
Ownership (%) |
|
|
Mada International Holding Co. |
28.23 |
34.50% |
|
Al Ghurair Foods Co. |
25.41 |
31.05% |
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