Amna Assem

Saudi Arabia’s Mutlaq Al-Ghuwairi Contracting Company plans to raise between 2.6 and 3 billion riyals ($693.3 - $800 million) from its initial public offering of 30% of its shares on the main trading market.

Mutlaq Al-Ghuwairi was founded in 1977 and specializes in infrastructure projects in the water, transportation and urban development sectors, in addition to operation and maintenance services. It has targets for selective expansion in gas and energy projects, according to official data.

According to a statement issued Sunday by Al Rajhi Capital, the lead manager, financial advisor, bookrunner, and underwriter, the price range for the 240 million shares offered has been set between SAR 11 and SAR 12.5 per share. The book-building period began Sunday and will continue until June 4, 2026.

All shares allocated for the offering will be initially allocated to the categories participating in the book-building process, with the possibility of allocating 30% of the total offering shares to individual investors if there is sufficient demand.

The subscription period for individuals is planned to extend from June 15-17.

(Prepared by: Omnia Assem, Edited by: Shaimaa Hefzy, Contact: zawya.arabic@lseg.com )

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