HSBC Saudi Arabia has announced the price range for the initial public offering (IPO) of Arabian Mills for Food Products, a leading manufacturer and distributor of flour and other food products in Saudi Arabia. The IPO, which will see 15,394,502 shares offered, representing 30% of the company’s current capital, is set to take place on the Saudi Stock Exchange (Tadawul). The price range for the IPO has been set between SAR 62 and SAR 66 per share. The bookbuilding process for institutional investors began on September 1, 2024, and will run until 5:00 PM Saudi time on September 5, 2024. The final offer price will be determined after the bookbuilding process is complete. The IPO is expected to be highly anticipated, as Arabian Mills has a strong track record of growth and profitability, and is well-positioned to benefit from the continued growth of the Saudi food and beverage market.