The Saudi Agricultural and Livestock Investment Company—which is owned by the kingdom’s sovereign Public Investment Fund—has shown interest in buying up to a 30 percent shareholding in The Organic Meat Company Ltd.
According to the stock filing, a regulatory filing showed the interested buyer has appointed PricewaterhouseCoopers, a consultancy firm, to conduct due diligence on the local company.
The proposed investment is currently in a discussion phase and no binding arrangements of any kind have been agreed with the Saudi entity, it added.
The company posted a net profit of Rs. 411.4 million for 2021-22, which is up 35.5 percent from the preceding year.
In recent months, the company has expanded its exports of meat products to various countries, including the United States of America (USA), Kuwait, and Lebanon.