Tanmiah Food Company Launches IPO Book Building Process, Sets Price Range

- Price range for the Offering is set at SAR 59 – 67 per share

- The Institutional subscription period will begin on 27 June 2021 and end on 1 July 2021

- The Retail subscription period will take place on 27 July 2021

RIYADH, Saudi Arabia, June 27, 2021 /PRNewswire/ -- Saudi Fransi Capital announces that it is starting the process of building the order book in preparation for offering 30% of the shares of Tanmiah Food Company ("Tanmiah" or the "Company") for public subscription through an Initial Public Offering ("IPO", the "Transaction" or the "Offering").

Saudi Fransi Capital, the Financial Advisor, Lead Manager, Bookrunner, and Underwriter for Tanmiah Food Company's IPO has announced the price range of the offering and the start of the book building process for the Institutional Tranche on 17/11/1442H (corresponding to 27/06/2021G). The institutional subscription period will continue until end of day on 21/11/1442H (corresponding to 01/07/2021G).

The Offering of the shares of Tanmiah will include the Institutional Tranche, where six million (6,000,000) Ordinary Shares will be offered to institutional investors, representing 30% of the share capital of the Company. The price range for the Offering has been set between SAR 59 – 67 per share. The minimum number of shares that can be subscribed to for each category of investors is one hundred thousand (100,000) Ordinary Shares, while the maximum number of shares that can be subscribed to is nine hundred and ninety-nine thousand nine hundred and ninety-nine (999,999) Ordinary Shares.

Saudi Fransi Capital will set the price of the Offering after the completion of the book building process, which will be followed by the subscription period for retail investors, where six hundred thousand (600,000) Ordinary Shares will be offered to individual members of the public (the "Retail Tranche"). A maximum of 10% of the shares offered for public subscription will be to individual subscribers. The subscription process for the Retail Tranche will last for one day, on 17/12/1442H (corresponding to 27/07/2021G).

In the event of sufficient demand from individual subscribers, Saudi Fransi Capital as Lead Manager has the right to reduce the number of offered shares allocated to the Institutional Tranche to a minimum of five million four hundred thousand (5,400,000) shares, representing (90%) of the total shares offered.

For more information and to view Tanmiah Food Company's Prospectus, please visit the website of the Capital Market Authority www.cma.org.sa, the website of Tanmiah Food Company www.tanmiah.com, or the website of Saudi Fransi Capital www.sfc.sa.

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