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A worker stands in a mill, which is part of a copper mine, run by a subsidiary of China's Zijin Mining, near the village of Krivelj, Serbia, April 5, 2024. Mining in Krivelj started in the 1970s, and even though standards have since improved, production has quadrupled since it was taken over in 2018 by China's Zijin Mining. "The site suffered from severe direct emissions of gases and wastewater, resulting in highly polluted surroundings including air, rivers, and soil," Zijin said in a statement to Reuters. REUTERS/Marko Djurica SEARCH "DJURICA SERBIA MINES" FOR THIS STORY. SEARCH "WIDER IMAGE" FOR ALL STORIES.
Saudi’s Fourth Milling (MC4) opened subscription for its retail portion today, as it plans to list 162 million shares or 30% of the company’s total issued share capital on the kingdom’s main stock exchange.
The retail offering will run for two days, ending on 3 October.
Retail investors have been allocated 20% of the total offered shares in the flour production compay, while institutions have been allotted the remaining 80%.
The offer price for the IPO on the Saudi Exchange (Tadawul) has been set at SAR 5.30 per share.
The final allocation has been set for 6 October, with any surplus refund on 9 October.
Following the transaction, current shareholder Gulf Milling Industrial Company will own 70% of the company’s share capital.
Riyad Capital has been appointed as the financial advisor, lead manager, bookrunner, and underwriter for the IPO. Riyad Bank and Arab National Bank (ANB) have been appointed as receiving agents.
(Writing by Bindu Rai, editing by Seban Scaria)
