Al-Munajem Offers 26% Bonus for Al-Jouf Stake

Al-Manjam Food Investment Company is planning to invest 236.3 million SAR in Al-Jawf Agricultural Company through subscribing to 4.5 million shares at a price of 52.5 SAR per share. This move would increase its stake from approximately 8.3% to 20.29%, granting it greater influence and participation on the board of directors. The price, which exceeds the company's theoretical valuation by 1.58 billion SAR and is based on a high price-earnings ratio of over 32 times (compared to the market multiple of nearly 25 times), reflects Al-Manjam’s desire to secure a strategic position—especially with voting rights enabling decision-making influence. Despite the fact that the financing significantly exceeds the company's available cash, the deal offers strategic benefits, including improved supply capabilities, reduced supply chain risks, and the integration of its agricultural production as part of its initial steps toward diversifying its value chain. The transaction is pending approval from the relevant authorities before final execution. This move has elevated Al-Manjam’s influence within Al-Jawf, with expectations to strengthen its presence in the local food sector.

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