Published 09 Aug,2021 via Arab News - Economy RIYADH - 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. The Riyadh-based company said it hopes to expand to the US, Europe, Asia and Latin America, funded by “various financial tools” from both private and government lenders.
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