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Dar Albalad IPO Overview
Saudi Arabia's IPO calendar marks another key date today. Dar Albalad for Business Solutions Company, a Saudi-based provider of information technology, business, and industrial solutions, has officially opened its retail subscription window for its Initial Public Offering on the Main Market of the Saudi Exchange (Tadawul).
If you've been tracking this listing, today is the day the offer becomes available to individual investors. Here's everything you need to know before deciding whether to participate.
Key IPO Information
- Retail Subscription Period: Sunday, 10 May 2026 → Thursday, 14 May 2026 (closes at 12:00 PM KSA time on the final day)
- Final Offer Price: SAR 9.75 per share (set at the top of the previously announced SAR 9.25–9.75 price range)
- Institutional Book-Building Result: Oversubscribed 66.6 times during the 26–30 April 2026 book-building period
- Total Shares Offered: 21,000,000 ordinary shares
- Stake Being Offered: 30% of the company's capital
- Listing Venue: Main Market, Saudi Exchange (Tadawul) — conditional listing approval already received
- Regulator Approval: Capital Market Authority (CMA) approved the offering on 31 December 2025
Introducing the new IPO feature on Sahm platform: A step-by-step guide to subscribing to the IPO
IPO Summary
| Category | Details |
|---|---|
| Company Name | Dar Albalad For Business Solutions Co. |
| Market | Main Market (TASI) |
| Core Activities | Information technology |
| Company’s Capital | SAR 70 Million |
| Total Shares | 70 Million |
| Par Value | SAR 1 per share |
| Issue Percentage | The Offer Shares represent 30% of the Company’s total Shares |
| Number of Offered Shares | 21 Million |
| Qualified Subscribers | Participating institutions & Retail investors |
| Total Number of Shares Offered to Retail Investors | 6.3 Million shares (30% of the offering size) |
| Minimum Number of Offer Shares to be Applied for by Individual Investors | 10 shares |
| Maximum Number of Offer Shares to be Applied for by Individual Investors | 100,000 shares |
| Minimum Number of Offer Shares to be Applied for by Institutional Investors | 100,000 shares |
| Maximum Number of Offer Shares to be Applied for by Institutional Investors | 3.5 Million shares |
About Dar Albalad: What the Company Does
Dar Albalad for Business Solutions is a Saudi joint-stock company headquartered in Riyadh, originally incorporated in 2001. Its current paid-up capital is SAR 70 million, divided into 70 million ordinary shares at a par value of SAR 1 each. As of 30 June 2025, the company employs more than 850 people.
After acquiring GSC Solutions (formerly Global Specialty Chemicals Company) in January 2025, the company now operates across three business lines:
- Business Solutions — IT managed services, IT consulting, and business managed services. This is the company's original core business, built up over more than two decades.
- Industrial Solutions — Industrial reclamation, maintenance, and supply services delivered through GSC Solutions, primarily targeting oil, gas, and petrochemical clients.
- Specialized Solutions — Smart IoT (Internet of Things) systems, including LoRaWAN and LPWAN network deployment for smart cities and smart factories. Dar Albalad is the sole Saudi distributor for MultiTech Systems, a US-based IoT hardware supplier.
The company states that future investment areas include artificial intelligence and cybersecurity solutions.
Geographic Footprint
Headquartered in Riyadh, with branches in Jeddah and Bahrain, an industrial facility in Dammam, and a support branch in Qatar — covering the GCC, MENA, and North Africa.
Client Base and Sector Positioning
Dar Albalad operates primarily in regulated sectors: government entities, banking and financial services, insurance, and oil and gas. Through its subsidiary GSC Solutions, the company has worked with major regional industrial players including Saudi Arabian Oil Co.(2222.SA), Saudi Basic Industries Corp.(2010.SA), and Qatar Fertilizer Company (QAFCO).
The company is classified as a Grade A contractor in Saudi Arabia, which qualifies it to bid on government projects exceeding SAR 200 million. It holds ISO 9001, ISO 14001, and ISO 45001 certifications, along with Tech Platform certification.
Notable Operational Assets
- A 10,000-square-meter industrial facility in Dammam's Second Industrial City, with roughly half the space currently unused — leaving room for capacity expansion.
- Licensed access to US-based industrial reclamation technology (purification through distillation or ion exchange) used in oil and gas operations. According to the company, this technology is licensed to only a limited number of providers globally.
- Ongoing collaboration with a regional oil and gas company to develop a new purification technology, which the subsidiary states it intends to patent if the development proves successful.
Information above is sourced and summarised from the company's Prospectus.
Who Can Subscribe
The offering is open to two main investor groups:
Tranche A — Institutional Investors (Book-Building) Institutional participants will have first access to the full 21,000,000 shares (100% of the offering) during the book-building period (April 26–30). Once retail subscription closes, the final allocation between tranches will be determined. If retail demand is sufficient, the institutional allocation may be reduced to a minimum of 14,700,000 shares (70% of the offering).
Tranche B — Individual (Retail) Subscribers Eligible retail subscribers include:
- Saudi nationals
- Divorced or widowed Saudi women with minor children from a non-Saudi husband (subscription permitted in their own name and on behalf of minor children, with supporting documentation required)
- Non-Saudi individuals, whether residing in Saudi Arabia or not
Retail subscribers are allocated a maximum of 6,300,000 shares, representing 30% of the total offering. If retail demand falls short, the unsubscribed shares will revert to institutional allocation.
⚠️ Duplicate subscriptions will be rejected — only the first submission is valid. Subscribing on behalf of a divorcee is prohibited and subject to regulatory penalties.
Foreign Strategic Investors may trade shares in accordance with Saudi regulations governing foreign securities investment.
Shareholder Structure
Substantial Shareholders — Pre- and Post-Offering Ownership
(Shareholders holding 5% or more of total share capital)
| Shareholder Name | Pre-Offering Shares | Pre-Offering Ownership | Pre-Offering Par Value (SAR) | Post-Offering Shares | Post-Offering Ownership | Post-Offering Par Value (SAR) |
|---|---|---|---|---|---|---|
| Dar AlBalad Commercial Company | 67,200,000 | 96% | 67,200,000 | 45,150,000 | 64.5% | 45,150,000 |
Source: The Company
Expected Offering Timetable
| Event | Date |
|---|---|
| Submission Period for Participating Parties and Book-Building Process | A period of five (5) business days commencing on Sunday, 09/11/1447H (corresponding to 26/04/2026G) and ending on Thursday, 13/11/1447H (corresponding to 30/04/2026G) |
| Submission Period for Individual Subscribers | Five (5) business days commencing on Sunday, 23/11/1447H (corresponding to 10/05/2026G) and ending on Thursday, 27/11/1447H (corresponding to 14/05/2026G) |
| Deadline for Submission of Subscription Forms by Participating Parties based on their initially allocated Offer Shares | Monday, 24/11/1447H (corresponding to 11/05/2026G) |
| Deadline for submission of Subscription Forms and payment of the Subscription monies by Individual Subscribers | Thursday, 27/11/1447H (corresponding to 14/05/2026G) |
| Deadline for payment of Subscription money by Participating Parties based on their initially allocated Offer Shares | Monday, 24/11/1447H (corresponding to 11/05/2026G) |
| Announcement of final Offer Shares allocation | Monday, 01/12/1447H (corresponding to 18/05/2026G) |
| Refund of excess subscription monies (if any) | Thursday 04/12/1447H (corresponding to 21/05/2026G) |
| Expected trading commencement date for the Shares on the Exchange | Trading of the Company's Shares on the Exchange is expected to commence after all relevant legal requirements and procedures have been fulfilled. Trading will be announced in local newspapers and on Tadawul website (www.saudiexchange.sa) |
Note: The above timetable and dates therein are indicative. Actual dates will be communicated in announcements made in local daily newspapers in the Kingdom, on the Tadawul website (https://www.saudiexchange.sa), the Company's website (www.addar-bs.com) and the website of the Financial Advisor (www.aljaziracapital.com.sa).
Introducing the new IPO feature on Sahm platform: A step-by-step guide to subscribing to the IPO
📄 Click to read the full Prospectus
📄 Click to read the full Supplementary Prospectus
Further updates regarding this IPO will be provided as more information becomes available.