Published 10 Jun,2021 via Arab News - Economy RIYADH - Tanmiah Food Company said it plans to use the proceeds of its forthcoming share sale to double production over the coming five years.
The company already double production six times over the past five years and has 17.6 percent share of the Saudi poultry market, spokesman Ahmed Al-Osailan told Al Arabiya. Tanmiyah is the second largest poultry producer in the Kingdom and operates in more than 20 markets worldwide, he said.
The Saudi Arabian Capital Market Authority on Tuesday approved the listing of 30 percent of Tanmiah, representing 6 million shares in the company.
The majority – 85 percent – of the company’s production is consumed locally, while the rest is exported, said Al-Osailan. It aims to expand and enter the global halal food market in the future, he said.
Copyright © Saudi Research & Publishing Co. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)
DISCLAIMER: This content is provided to us “as is” and unedited by an external third party provider. We cannot attest to or guarantee the accuracy of information provided in this article from the external third party provider. We do not endorse any views or opinions included in this article.