RIYADH, 13 June 2005 — One of Saudi Arabia’s leading poultry producers is planning to list on the Kingdom’s stock exchange this year, the firm said yesterday. “We aim to offer shares before the end of the year,” said Abdul Rahman Al-Helayel, chairman and managing director of Al-Akhawain Company. Helayel did not give an exact date for the issue, nor how many shares would be up for sale, but recent Saudi IPOs have offered at least 30 percent of company stock. The approval of the Capital Markets Authority will be required. Samba Financial Group is the lead manager for the issue. Al-Akhawain is the third-largest producer of frozen poultry and feed in the Kingdom. The firm sells around 130,000 birds per day and plans to increase this to 250,000 over the next three years. In 2004, sales reached around SR296 million ($79 million) and net profits SR121 million.