Saudi Firm Thimar Launches $26.7 Million Fund for Mecca Livestock Investments

Melfi Al-Marzoqi, Thimar CEO

Thimar Development Holding Company has launched a private investment fund to acquire a 70% stake in Jiyad Al-Ezz, which holds exclusive rights to invest in Mecca's livestock market and Al-Mu’aisem slaughterhouse for 25 years.

The fund, valued at SAR 100 million ($26.7 million), will be raised through a private offering of 100,000 units priced at SAR 1,000 each. The fund’s minimum operational capital is set at SAR 20 million, with a duration of seven years, extendable by up to two additional years.

Thimar’s contribution will depend on the fund's size but will not exceed SAR 30 million. Rasana Financial Company has been appointed as the fund manager and financial advisor.

Source: Zawya