Al-Khodari to float 30 per cent stake
GIB Financial Services has been appointed as financial adviser, lead manager and co-underwriter for Al-Khodari’s planned listing on the Saudi Arabian Stock Exchange (Tadawul) in October.
The integrated construction and manufacturing company announced on 1 July that it will float a 30 per cent stake, (equivalent to a total of 12.75 million shares), between the 4 and 10 October this year.
A book-building process will determine the pricing of the shares, but only Saudi nationals and Saudi-registered financial firms can buy into the initial public offering (IPO).
GIB Financial Services is a wholly owned subsidiary of Bahrain’s Gulf International Bank (GIB).
Knowledge Economic City (KEC), one of the kingdom’s six planned economic cities, raised SR1.02bn ($272m) in the most recent IPO in Saudi Arabia.
It was 165 per cent oversubscribed when it closed on 30 May, making it the country’s largest IPO over the past 10 months. It is expected to be the biggest this year.
You might also like...
Executive briefing: US-Israel-Iran conflict
06 March 2026
UAE utilities say services stable amid tensions
06 March 2026
Drawn-out conflict may shift planning priorities
06 March 2026
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
Take advantage of our introductory offers below for new subscribers and purchase your access today! If you are an existing client, please reach out to your account manager.
