Fadeco a Saudi Ice cream maker debuts on stock market
A bourse statement showed that Saudi ice cream manufacturer
Arabian Food & Dairy Factories Co., known as Fadeco, will start trading its
shares on the Kingdom’s stock market.
The Dammam-based company’s initial public offering price had
earlier been set at the top end of an indicative range of SR71 ($19), following
strong interest from investors.
It raised SR20 million from its IPO of 282,000 shares –
representing 20 percent of capital.
Established in 1979, Fadeco is specialized in food manufacturing
and is most known for its wide range of ice cream products.
Source: Arab News
.jpg)
