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28 September 2021

Tanmiah Food Company announces that it will host its 1H/2Q 2021 Earnings Call for institutional investors and analysts.


Tanmiah Food Company will host its 2Q and 1H 2021 virtual Earnings Call on Wednesday, 29 September 2021, the invitation extended to institutional investors and analysts. Company executives to discuss key highlights of Tanmiah’s operations and financial performance during the second quarter and first half periods. The presentation will be followed by an open Q&A session.

The Earnings Call will aim to promote high levels of transparency, disclosure and engagement with the investment community. It is Tanmiah’s inaugural Earnings Call following its listing on August 4, 2021.

The 2Q and 1H 2021 Earnings Call Presentation is available here: Click Here


4 August 2021

Tanmiah to List on Saudi Stock Exchange Market “Tadawul”, Following a Historical IPO Coverage.


Tanmiah Food Company (Tanmiah) has listed on the Saudi Exchange following a successful IPO in which its shares achieved an institutional coverage ratio of 9,534% and a retail coverage ratio of 1,170%. The shares were offered to institutions and individuals at SR67, at the top of the range previously set at SR59-67.

The sale of 30% of the share capital of Tanmiah, one of the leading food production companies in Saudi Arabia and the Middle East, raised a total of SR402 million ($107.2m) and the transition to a listed company will support the next phase of the company’s growth ambitions.

Ahmed Osilan, spokesperson of Tanmiah Food Company, said: “The exceptionally high demand for our shares shown by both institutional and retail investors is a clear vote of confidence in Tanmiah’s strength in the marketplace, our integrated and efficient business model, the resilience of the markets in which we operate, and our plans for the future.

“The company has demonstrated that it is trusted for its reliability and sustainability in a defensive sector that is highly appealing to investors, with a conservative risk profile together with an appetite for solid growth. Gratitude and appreciation are, as always, extended to the Capital Market Authority and the Saudi Exchange for their invaluable support and guidance through this success story of Tanmiah’s IPO.”

Tanmiah has increased its local sales of fresh chicken by 23% over the past three years from 66.3 million chickens in 2018 to 81.5 million in 2020. Established as the second largest producer of fresh chicken in the retail market in Saudi Arabia, Tanmiah seeks to grow its fresh chicken business in line with the Saudi government’s Food Security plans, and the national production target of 80% of local poultry demand produced domestically within the next five years.

Ahmed Osilan continued: “With strong support for our sector from the Saudi government, together with growing economies of scale as we expand combined with our focus on achieving business efficiencies, we are confident of achieving our aim of becoming a leading producer and distributor of food products, including poultry and meat products in the MENA region.

“Our focus on quality and food safety will enable us to expand by targeting customers who place a high value on taste, freshness and consistency. We believe our business will continue to offer a compelling opportunity to both local and international investors seeking a meaningful growth story and a solid platform for expansion.”

As well as operating 84 farms, six hatcheries, a feed mill and two slaughterhouses, Tanmiah operates three food processing plants and 13 dry and cold storage facilities. Its integrated business model of production, processing and distribution is asset-light, which enables flexibility in expansion.

Tanmiah sells its products primarily in Saudi Arabia as well as the UAE, Bahrain, Lebanon, Oman, Jordan, and Kuwait through a network of distributors, wholesalers and retailers. The company serves leading supermarkets including Panda, Othaim and LuLu as well as hotels and restaurants including Burger King, McDonalds, Pizza Hut, and Subway, as well as selling its products directly to consumers online.


15 June 2020

Tanmiah meets the Undersecretary of the Ministry of Environment, Water and Agriculture for Agricultural Affairs


His Excellency the Under-Secretary of the Ministry of Agriculture for Agricultural Affairs, Engineer Ahmed Ben Saleh Al-Eyada congratulated the Tanmiah Food Company on getting the approval of the Capital Market Authority for the IPO. His Excellency praised this blessed step, especially since the Tanmiah Food Company is the first company to be particularly operating in poultry production and gets approval from the CMA. This contributes to achieving the goals of the poultry sector and the sustainability of local companies, which supports the ministry’s directions and plans to achieve food security in line with Vision 2030.

The Company’s future expansion plans and some business development initiatives were discussed too. These will contribute to the sustainability of this sector through the addition of more than 16 projects, including feed mills, slaughterhouses, waste recycling factories and renewable energy, as well as 150 agricultural projects and specialized hatcheries to produce poultry, which will create new jobs for Saudi youth.

The company also expressed its desire to double its production over the next 5 years, with its market share in current Saudi markets accounting for 18.7% in the fresh poultry sector.

The Tanmiah Food Company is one of the companies of the Al Dabbagh Group Holding. It was founded 60 years ago and is one of the oldest and largest poultry producers and food manufacturers in the Kingdom. The company’s potential to be a regional leader and to enter the global Halal market has been discussed.


8 June 2021

Capital Market Authority approves Tanmiah’s Application to go Public


The Capital Market Authority (“CMA”) Board has issued its resolution approving Tanmiah Food  Company’s (“the company”) application for the offering of (6,000,000) shares representing (30%) of the Company’s share capital. The Company’s prospectus will be published within sufficient time prior to the start of the subscription period.

About the IPO, the spokesman of the Tanmiah Food Company, Ahmed Al-Osailan, said in an interview with Al-Arabiya, that it would take place on the official market, explaining that its purpose was to contribute to Tanmiah’s development plans over the next five years.

The company is considered one of the largest and oldest food producers in the Kingdom and seeks to be a regional leader and enter the global halal market. Al-Osailan added: “The Company intends to double its production in the coming five years; it has already been able to double its production six times over the past five years,” he said: “Vision is promising based on our achievement in the past years to gain leadership position.”