MBRF aims for IPO of joint venture in Saudi Arabia by the first quarter of 2027

After expanding with the Halal Products Development Company (HPDC), MBRF will work to take the company public on the Riyadh Stock Exchange in Saudi Arabia. According to MBRF's chairman and controlling shareholder, Marcos Molina, the idea is for the IPO to be completed by the first quarter of 2027, as local legislation requires 12 months to finalize the partnership synergies. "If the completion happens at the end of this year, we can already start the IPO process. But the expectation is that it will occur in the first quarter of 2026 and thus the capital opening should happen in 2027. The cost of capital is half that of Brazil," said Molina. "This is a thriving stock exchange. This year, it is the fourth in IPOs worldwide and the multiples are double digits. This shows the company's confidence in the region." According to Molina, the capital opening of the joint venture in Saudi Arabia does not make the MBRF IPO plan in the United States unfeasible. The executive said that the ...