IPO Monitor | MGC Sets IPO at SAR 11–12.50; Individual Subscription Runs June 15–17

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Mutlaq Al-Ghowairi Contracting Company (MGC) has opened the institutional bookbuilding phase of its initial public offering (IPO) on Sunday, 31 May 2026.

This is the round where institutional investors place their orders — and it determines the final price per share.

The basics

  • Price range: SAR 11.00 – 12.50 per share. The final price is confirmed after bookbuilding closes.
  • Offering size: 240 million shares — 30% of the company's share capital.

Key dates

  • Institutional bookbuilding: 31 May → 4 June 2026 (closes 3:00 PM KSA time)
  • Individual subscription: 15 June → 17 June 2026 (a three-day window)

Worth knowing

These are existing shares being sold by current shareholders — not newly issued shares.

The offering was approved by the Capital Market Authority (CMA) on 31 December 2025.

What it means for individual investors

The current bookbuilding stage is open only to institutional "Participating Parties," so individuals don't take part yet.

Individual investors window comes later: a three-day individual subscription period runs from 15 to 17 June 2026, after the final price is set.

Institutions are provisionally allocated all 240 million shares, but that can be trimmed to a minimum of 168 million (70%) to free up shares for individuals if their demand is strong enough.

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