Riyadh — Mubasher: The board members of Al Jouf Agricultural Development Company recommended on 23 August 2026 a capital increase through the issuance of 4.50 million new ordinary shares.
The transaction is valued at SAR 236.25 million and involves the suspension of preemptive rights to allow Almunajem Foods Company to subscribe to the entire offering, according to a bourse disclosure.
Upon completion, Almunajem Foods will hold a 20.3% stake in Al Jouf Agricultural, including its existing ownership.
The new shares will be issued at a price of SAR 52.50 per share, with a par value of SAR 10.
The issuance represents 15% of Al Jouf Agricultural's current capital of SAR 300 million and 13.04% of its capital following the increase.
Al Jouf Agricultural stated that it intends to utilize the proceeds to support its strategy and infrastructure as it shifts from traditional farming to integrated agro-industrial operations, focusing on food manufacturing and value-added products.
The proposal remains subject to approvals from the Capital Market Authority (CMA), Saudi Exchange (Tadawul), and an extraordinary general assembly.
Meanwhile, Al Jouf Agricultural has appointed Sadeed Financial as its financial advisor for the process.
