First published: 18-May-2026 19:37:37

Fatima Al-Kashef

Mutlaq Al-Ghuwairi Contracting Company, a Saudi company, intends to offer 30% of the shares of current shareholders for initial public offering, equivalent to 240 million shares, on the main Tadawul market, according to a statement issued a few days ago by Al Rajhi Financial Company, the offering manager.

Indicators point to an increase in demand for initial public offerings in the markets during the second quarter of this year, while the Saudi Stock Exchange had received the Abdulaziz Al-Rashed & Sons Company during the first quarter of the year, while the initial public offering of Dar Al-Balad Business Solutions Company is currently underway.

The company intends to initially allocate all shares of the offering to the categories participating in the book-building period, with the possibility of allocating 30% of the total offering shares to individual investors if there is sufficient demand.

More details about the planned offering and the company

(According to the statement and the company's official website)

- On May 31, 2026, the price range will be announced, and the order book will be started.

- The final offering price will be announced on June 8, 2026.

- The subscription period for individuals begins on June 15 and extends to June 17.

- The company was founded in 1977 and works on infrastructure projects in the water, transportation and urban development sectors, in addition to operation and maintenance services.

- More than 80 projects have been implemented over the past five years, with a volume of work under implementation valued at 10.6 billion riyals as of March 2026.

- During the first quarter of 2026, the company recorded annual profits of 202 million riyals ($53.9 million), representing an 85.3% year-on-year growth.

- It aims to selectively expand in the future in gas and energy projects.

(Prepared by: Fatima Al-Kashef, Edited by: Omnia Assem and Shaimaa Hefzy, Contact: zawya.arabic@lseg.com )

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