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IPOs

An impression of the planned water theme park at Qiddiya, Saudi Arabia, being constructed by ALEC

Dubai contractor Alec anticipates $500m IPO

Dubai is hoping to raise up to $500 million from the initial public offering of Alec Engineering and Contracting, according to media reports. Alec, part of the Investment Corporation of Dubai’s portfolio, is behind some of the Gulf’s largest projects including the Wynn Resort in Ras Al Khaimah and the Qiddiya water theme park in […]

A Tadawul trader. Derayah's final IPO price is due to be announced on February 13

Derayah raises $400m ‘in minutes’ on day 1 of IPO book-building

The book-building phase of Derayah Financial’s initial public offering attracted massive demand on its first day, with institutional investors quickly covering subscriptions. The Saudi online brokerage offered 49.9 million shares on Sunday to investment funds, qualified foreign companies and institutions, as well as Gulf and foreign investors, as part of an IPO book-building that is […]

Masar is one of the largest redevelopment projects in the region, stretching more than 3.5km along Mecca’s western border

Saudi developer Umm Al Qura to float on Tadawul

Umm Al Qura for Development and Construction (Umm Al Qura), the developer of Masar, a mixed-use project in Mecca, plans to float just over nine percent of its capital through an initial public offering (IPO) on the Saudi stock exchange. The net proceeds will be used to cover costs associated with land settlements, infrastructure, and project financing expenditures. Funds […]

The Saudi facilities management market is expected to grow at a 10 percent compound annual growth rate, expanding to about $56 billion by 2032

AlMajal AlArabi considers listing on Saudi Arabia’s Tadawul

Saudi Arabia’s AlMajal AlArabi Group (MAG) is considering an initial public offering on the Tadawul main market and has appointed Riyad Capital as an adviser, people familiar with the plans told AGBI. The Riyadh-based facilities management and construction company is exploring a share sale as Saudi Arabia’s infrastructure and services sectors expands, driven by multi-billion-dollar […]

A doctor's appointment. Saudi Arabia wants the private sector to account for 45% of healthcare spending by 2030

Saudi privatisation push fortifies healthcare companies

11 listed companies analysed Profits have risen for 10 of them Government policy drives growth The revenues of listed Saudi healthcare companies should rise more quickly than the broader stock market thanks to government efforts to incr... Register now: It’s easy and free This content is available for registered members only. Register for your free […]

Speaking at the Real Estate Future Forum in Riyadh, NHC CEO Mohammad Albuty said NHC is on track to meet its 2025 house-building target within months

Saudi Arabia’s NHC explores floating subsidiaries

Saudi Arabia’s National Housing Company (NHC) is exploring the possibility of launching initial public offerings (IPOs) for many of its subsidiaries. They include NHC Innovation, the company’s digital arm that was launched this week. NHC said it was meant to improve services for a customer base that has grown to 20 million across 10 different […]

A trader checks the market at the Saudi exchange; Derayah Derayah is considering seeking a valuation of about $2 billion

Derayah Financial to list 20% in IPO on Riyadh exchange

Saudi Arabia’s Derayah Financial has announced plans for an initial public offering on the Riyadh stock exchange. The financial services company, which specialises in brokerage and asset and wealth management, plans to offer investors a 20 percent stake, it said on Thursday.  The company is looking to sell more than 49.9 million shares and the […]

Asyad Group CEO Abdulrahman Al Hatmi. The logistics business is owned by the Oman Investment Authority

Oman’s Asyad Group plans IPO of shipping unit

Asyad Group, a logistics business owned by Oman’s sovereign wealth fund, has announced plans to float its shipping unit on the Muscat stock exchange. At least 20 percent of Asyad Shipping Company will be sold in the initial public offering. The Asyad IPO will be divided into two tranches. The first is 75 percent of […]

Mohammed Alardhi, executive chairman of Investcorp, has welcomed Donald Trump's return to power, saying: 'We think the new administration is pro-growth'

Investcorp chairman weighs IPO or deal with strategic investor

Investcorp is considering a tie-up with a strategic investor or an initial public offering in the next few years, its executive chairman has said.  Mohammed Alardhi said the Bahrain-based alternative asset manager had streamlined its strategy and reshuffled its leadership and management teams.  For its next period of growth, Investcorp may look to outside investment, […]

Saudi ecommerce platform Nice One sells cosmetics and personal care products to four million registered customers

Nice One share price up 55% in first week of trading

Nice One Beauty Digital Marketing Co’s shares jumped 9.81 percent on Tuesday, beginning the day at SAR49.75 ($13.25) and reaching SAR 54.30 by its close. Eight days after the Saudi cosmetics retailer launched an initial public offering (IPO) for 30 percent of its capital (36.5 million shares) on January 7, its shares have increased in […]

Riyad Bank tower in the King Abdullah Financial District of the Saudi capital. The bank is already listed on the Tadawul

Saudi Arabia’s Riyad Capital explores $2.5bn IPO 

The proposed listing of Riyad Capital, the investment banking arm of Riyad Bank, would value the business at $2.5 billion, Bloomberg has reported. Riyad Capital is working with JP Morgan Chase & Co on the plan to list on the Saudi stock exchange, which is expected in mid-2025. Founded in 2008, Riyad Capital offers a […]

A diabetes awareness event organised by the Dr Soliman Abdel Kader Fakeeh Hospital; the Saudi medical company conducted the largest IPO, selling 21.5 percent of its stock for $764 million

Strong post-IPO performance bodes well for Saudi flotations

Recently floated Saudi Arabian companies have thrived since listing on Riyadh’s bourse, thanks in part to astute pricing of initial public offerings and foreign institutional investors’ growing participation. Since the start of 2024, there have been 14 IPOs in Saudi Arabia that raised more than $100 million, according to data compiled by AGBI and London […]

Saudi Tabreed currently manages 779,000 tonnes of refrigeration via contracts with major companies in the kingdom

PIF-backed Tabreed explores Saudi listing this year

Tabreed District Cooling is planning to launch an initial public offering (IPO) on the Saudi stock market this year, according to a news report. Backed by the Public Investment Fund (PIF), the refrigeration and cooling company has hired Citigroup and SNB Capital for a potential flotation, Bloomberg reported, citing informed sources. While no final decisions […]

Commentators say Middle East investors have remained active, despite the overall drop in venture capital funding

Saudi startup funding tumbles as era of cheap money ends

Funding for startups in Saudi Arabia dropped 44 percent to $750 million last year, the sharpest decline in the Middle East and North Africa, according to data analyst Magnitt. Across Mena, venture capital was down 29 percent to just under $2 billion, reflecting global trends of high interest rates and investor caution. Saudi Arabia was […]

Nice One, the largest beauty and personal care ecommerce platform in Saudi Arabia, aims to raise $322 million through the IPO

Retail orders for IPO of Saudi’s Nice One hit $242m

The retail tranche of Nice One Beauty Digital Marketing’s initial public offering on the Saudi stock exchange was 7.9 times oversubscribed, with the order book reaching SAR908 million ($242 million). SNB Capital Company, the lead manager for the IPO, said the two-day subscription included 3.47 million shares, representing 10 percent of the IPO, at SAR35 […]

The expected market capitalisation of Almoosa Health will be SAR5.63bn, making it Saudi Arabia’s second-largest IPO this year

Almoosa Health IPO’s retail tranche orders hit $372m

The retail tranche of Almoosa Health Company’s initial public offering (IPO) on the Saudi stock exchange was 408.7 percent oversubscribed, with the order book reaching SAR1.4 billion ($372.8 million). It ran two days from December 23 and comprised 2.66 million shares, representing 20 percent of the IPO, at SAR127 per share. Individual investors will receive […]

Almoosa Health Company has set the final offering price at SAR 127 per share

Almoosa Health’s Saudi IPO order book hits $46bn

The institutional book-building process for Almoosa Health Company’s upcoming initial public offering (IPO) has reached SAR173 billion ($46 billion) and was oversubscribed 103 times. The company set the final offering price at SAR127 per share, raising SAR1.69 billion on the Saudi stock market listing. The expected market capitalisation will be SAR5.63 billion, making it the […]

Grocery business Mair Group listed on ADX this week. UAE IPOs raised over $6bn last year

ADX ripe for international investment, say asset managers

The Abu Dhabi Securities Exchange remains a sleeping giant for international investors despite the huge sums raised from recent ADX listings, speakers said this week at the emirate’s annual financial showcase. There have been 23 notable initial public offerings of UAE companies since the start of 2021 – 14 on the ADX and nine on […]

OQBI has offloaded 49% of its shares, with 40% going to retail investors

Oman’s OQBI poised to make Muscat bourse debut

Oman’s OQ Base Industries will debut on Muscat’s bourse on December 15 after the state oil company subsidiary completed a $489 million initial public offering. OQBI, the third OQ unit to float since March 2023, has offloaded 49 percent of its shares. Of the shares sold, 30 percent went to institutions, 40 percent to retail […]