Alamar shares debut on Tadawul today

Logo of Alamar Foods Co.

Alamar Foods Co. will begin trading on the Saudi Exchange (Tadawul) today, Aug. 9, under the consumer services sector, with the symbol 6014 and ISIN Code: SA15JHPITV18.

The daily and static price fluctuation limits of ±30% and ±10%, respectively, will be applied during the first three days of the listing.

These fluctuation limits will be applied during the first three days of listing. From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10% and the static price fluctuation limits will no longer apply.

This will be the ninth listing on the main market this year, after East Pipes Integrated Company for Industry (Jan. 24), Scientific & Medical Equipment House Co. (Jan. 31), Elm Co. (Feb. 3), Al-Dawaa Medical Services Co. (Feb. 27), Al Masane Al Kobra Mining Co. (March 9), Nahdi Medical Co. (March 13), Saudi Home Loans Co. (March 27) and Retal Urban Development Co. (June 5).

Last year witnessed nine listings, including Alkhorayef Water and Power Technologies Co., Theeb Rent a Car Co., Tanmiah Food Co, Arabian Internet and Communications Services Co. (solutions), ACWA Power, Arabian Contracting Services Co., Nayifat Finance Co., Saudi Tadawul Group and Almunajem Foods Co.

Alamar’s listing will bring the total number of Tadawul-listed companies to 199, excluding 17 REITs.

The company offered 10.63 million shares, or 41.7% of its capital, on the main market, at SAR 115 per share, of which 90% was allocated to the participating parties and 10% to individual investors, according to data available with Argaam.

The retail subscription to the company's shares was 6.9x oversubscribed. A total of 169,07 retail investors subscribed to shares at a total value of SAR 847.21 million.

Each retail investor received a minimum of six shares, while the remaining shares will be allocated pro-rata based on the demand size of every subscriber to total shares. The allotment ratio was 0.7698%.

Company Profile

In 1985, the company made a debut as a branch of Al Jammaz Corp., under the name Supply Services Corp. In 1998, it converted from a sole proprietorship to a limited liability company, with SAR 62 million capital. In 2012, Alamar converted into a closed joint-stock company, increasing its capital several times since its inception to reach SAR 255 million.

Its core activities, according to its articles of association, are table service restaurants and fast-food activities, including pizza stores.

Alamar is the exclusive franchiser and operator of the Domino's Pizza brand in the Middle East, North Africa and Pakistan, in addition to the Dunkin' brand in Egypt and Morocco.

The company has 14 branches across the Kingdom, through which it runs 275 Domino’s stores, of which a sub-franchisor manages 28 in Makkah and Taif. The company further owns four warehouses in Riyadh.

Subsidiaries:

Alamar runs 12 subsidiaries in Saudi Arabia, UAE, Egypt, Morocco, Qatar, Bahrain, Kuwait, Oman, Lebanon and Jordan, as follows:

* Indirect ownership by Alamar MDMS

** Indirect ownership by Alamar Foods Bahrain

After IPO, Abdulaziz Ibrahim Al Jammaz & Brothers Co. will be a major shareholder in Alamar, holding 57.12%. The major shareholders are as follows: