Riyadh – Mubasher: Almunajem Foods Company’s board of directors has approved the signing of a binding subscription agreement to execute a strategic investment in Al Jouf Agricultural Development Company.
The agreement follows an initial announcement made on 2 February 2026 regarding the company's intent to invest in the agricultural producer.
Under the terms of the agreement, Almunajem Foods will subscribe to 4,500,000 new shares to be issued by Al Jouf Agricultural through a capital increase with the suspension of preemptive rights.
The transaction is valued at SAR 52.50 per share, representing a total investment of SAR 236.25 million.
Upon completion, Almunajem Foods will raise its total stake in the company to 20.29%, up from its current holding of 8.30%.
The deal includes provisions for the reconstitution of the Al Jouf Agricultural’s board of directors following the completion of the investment.
The transaction remains subject to regulatory approvals from the Capital Market Authority (CMA) and Tadawul, as well as the approval of the extraordinary general meeting (EGM) of Al Jouf Agricultural.
In June, the shareholders of Almunajem Foods approved several strategic financial measures and related-party transactions.
