The Saudi Capital Market Authority (CMA) has officially approved the Initial Public Offerings (IPOs) of three companies across the Technology, Construction, and Real Estate sectors. Each company will offer 30% of its share capital to the public on the Tadawul All Shares Index(TASI.SA) market.

Here is the essential breakdown for investors:

1. Dar Albalad For Business Solutions

• The Offering: 21,000,000 shares.
• Company Snapshot:
  • Established in 2001 by Dr. Ibrahim bin Salamah (former Vice Chairman and Managing Director of SABIC).
  • Specializes in comprehensive Information Technology (IT) services and solutions.
  • Operates across the Gulf region with a team of over 600 experts and employees.

2. Mutlaq Al-Ghowairi Contracting Company

• The Offering: 240,000,000 shares.
• Company Snapshot:
  • A veteran contractor established in 1977.
  • Focuses on Engineering, Procurement, and Construction (EPC) as well as Operations and Maintenance (O&M).
  • Active in key infrastructure sectors including water, transportation, urban development, energy, and the environment.
  • Workforce: Approximately 4,500 employees.

3. AlDyar AlArabia Real Estate Development Company

• The Offering: 97,500,000 shares.
• Company Snapshot:
  • Portfolio: Current investment portfolio stands at approximately SAR 15 billion.
  • Key Projects:
    • Dyar Al-Haram (Makkah): A massive multi-phase development with investments around SAR 10 billion.
    • Masar Destination: Recently signed an agreement with Umm Al Qura for Development and Construction Co.(4325.SA) to develop a residential tower (300+ units) with investments reaching SAR 700 million.

Important Investor Notes

• Next Steps: The official prospectus for each company will be published prior to the subscription period. It will contain essential details on financial statements, management, and risk factors.
• Validity: These approvals are valid for 6 months; if the listing is not completed within this timeframe, the approval is cancelled.
• Disclaimer: The CMA’s approval confirms compliance with legal requirements but is not a recommendation to subscribe. Investors are advised to review the prospectus carefully or consult a financial advisor.