Saudi halal food producer Tanmiah plans for expansion after IPO


Tanmiah Food Co., Saudi Arabia’s number two poultry producer, has plans to take its halal products into new markets after last week’s initial public offering (IPO), in which it raised SR402 million ($107 million), Bloomberg reported.

“We are looking to expand not only locally, but regionally and globally too,” spokesman Ahmed Osilan said in an interview, adding that the company is targeting 1.8 billion Muslims around the world with its expansion.

Tanmiah has about an 18 percent share of the Saudi poultry market, and has branches in parts of the Middle East and Africa.—AN


Previous articleIslamic real estate financier posts net profit of $53.6m
Next articleSAMA launches Islamic finance research support programme