Signworld sets IPO price range at SAR 12-15/shr on Nomu
The company will offer 1.5 million shares, equal to 25% of pre-offering and 20% of post-offering capital, to qualified investors, according to Argaam 's data.
The offering period for qualified investments will run from Aug. 17-24, 2025.
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Argaam
8 minutes ago
- Argaam
Key dates, subscription period for Al Majdiah IPO
Retail investors start today, Aug. 14, subscription to 18 million shares of Dar Al Majed Real Estate Co. (Al Majdiah), at SAR 14 per share. The subscription period will run for three days. The company floated 90 million shares, or 30% of capital, with 20% allocated to retail subscribers and 80% to institutions.
Argaam
8 minutes ago
- Argaam
Retail subscription to Al Majdiah 18M shares on TASI starts today
Retail investors will start today, Aug. 13, subscription to 18 million shares of Dar Al Majed Real Estate Co. (Al Majdiah) at SAR 14 each. The shares offered to retail investors represent 20% of the total floated shares. The retail offering will end on Aug. 18. The Capital Market Authority (CMA) approved the company's application last March to float 90 million shares on the Main Market (TASI), representing 30% of its SAR 300 million capital, divided into 300 million shares at SAR 1 each. The institutional offering ended last week, with a coverage ratio of 107x. This is the eighth IPO on TASI this year after Derayah Financial on Feb. 20, Entaj on Feb. 26, and Masar on May 5. This is in addition to United Carton Industries Co. (UCIC) on May 27, flynas on June 18, Specialized Medical Co. (SMC) on June 25 and Sport Clubs Co. in July 8. Tadawul witnessed 14 IPOs last year, following listings by Middle East Pharmaceutical Industries Co. (Avalon Pharma) on Jan. 30, Modern Mills for Food Products Co. on March 5, Miahona Co. and Dr. Soliman Abdulkader Fakeeh Hospital Co. (Fakeeh Care) on May 21, Saudi Manpower Solutions Co. (SMASCO) on May 26, Al Taiseer Group Talco Industrial Co. (TALCO) on May 28, Rasan Information Technology Co. on May 29, Almajed for Oud Co. on Sept. 15, Arabian Mills Co. on Sept. 18, Fourth Milling Co. (MC4) on Oct. 2, Tamkeen Human Resources Co. on Nov. 5, United International Holding Co. on Nov. 19, Almoosa Health Co. on Dec. 23 and Nice One Co. on Dec. 24. Company Profile Incepted in 2014, Dar Al Majed Real Estate is a Saudi closed joint-stock company with an issued capital of SAR 300 million. Based in Riyadh, it converted from a limited liability company in 2023 and operates in real estate activities. By the end of the first nine months of 2024, the company had sold about 1,421 residential units and held 215,000 square meters of saleable land. Projects under construction as of September 2024 exceeded SAR 1.2 billion. Performance indicators for fiscal years 2021–2023 and the first nine months of 2024 are shown in the following table. Key Performance Indicators Metric 2021 2022 2023 9M 2024 Units sold 874 1,176 1,220 1,421 Units developed 1,238 1,899 1,366 1,238 Saleable area ('000 sqm) 116.74 170.82 171.48 214.95 Avg. revenue per unit (SAR '000) 850.83 1,002.13 1,088.44 1,097.35 Net profit (SAR mln) 286.85 109.51 147.38 181.50 Real estate inventory (SAR mln) 335.25 275.79 589.58 542.76 Land sold (sqm) 54,174 34,720 2,304 27,181 Projects under construction (SAR mln) 852.23 1,420.57 905.00 1,251.85 As of Sept. 30, 2024, the company held 354 completed units, comprising apartments and townhouses, that remained unsold, including 307 directly owned units expected to be sold in 2025. Projects developed through investment funds accounted for 50% of total revenue by end-September 2024, while company-owned projects contributed 46%, joint ventures 3%, and third-party developments 13%, as shown in the following table: Completed Units for Sale – End of September 2024 Project Category Type Location (Riyadh) Book Value (SAR mn) Al Majdiah 129 Owned Apartments Al Qamrah 13 Al Majdiah 130 Owned Apartments Al Yasmin 1 Al Majdiah 138 Owned Apartments Al Nuzha 3 Al Majdiah 140 Owned Apartments Al Narjis 1 Al Majdiah 142 Owned Apartments Al Narjis 3 Al Majdiah 143 Owned Apartments Al Hamra 26 Al Majdiah 144 Owned Apartments Al Narjis 8 Al Majdiah 146 Owned Apartments Al Narjis 2 Al Majdiah 148 Joint Townhouses & Villas Al Narjis 127 Al Majdiah 154 Joint Townhouses & Villas Al Narjis 117 Al Majdiah 156 Fund-developed Apartments Al Nada 61 Al Majdiah 181 Fund-developed Offices Al Qirawan 75 Majaz Fund-developed Offices Al Janadriyah 83 Al Majdiah 127 Fund-developed Apartments Al Malqa 3 Al Majdiah 132 Fund-developed Apartments Al Murooj 16 Al Majdiah 133 Fund-developed Apartments Al Qamrah 107 Al Majdiah 147 Fund-developed Apartments Al Narjis 207 Al Majdiah 139 Fund-developed Apartments & Townhouses Tilal Al Riyadh 22 Al Majdiah 145 Fund-developed Apartments Al Aqiq 4 Al Majdiah 155 Fund-developed Apartments Irqah 23 Al Majdiah owns nine subsidiaries and three real estate funds with varying ownership stakes, including five wholly owned subsidiaries. It also fully owns Al Majdiah Investment Fund, with a capital of SAR 1 billion. The following table outlines the company's real estate funds and subsidiaries: Al Majdiah Real Estate Funds and Subsidiaries Entity Capital (SAR mln) Direct Ownership Indirect Ownership Mohammed & Khalid Sons of Abdulrahman Al Majed Real Estate Co. 60.00 100% — Hossam & Majed Sons of Abdulrahman Al Majed Real Estate Co. 15.00 100% — Al Raea Real Estate Co. 0.10 100% — AL FKRAA Investment for Development & Real Estate Investment Co. 0.10 100% — Nabras Real Estate Development Co. 0.10 100% — Taj Al Hudu for Development & Real Estate Investment Co. 0.10 100% — Jaddat Al Shati Real Estate Co. 0.50 70% — Jaddat Al Rabee Real Estate Co. 0.10 25% — Burj Al Raea Real Estate Co.* — — 50% Al Majdiah Investment Fund 1,000.00 100% — Aldar Investment Fund 2,000.00 27% 43% Alnarjis Real Estate Fund 500.00 63.53% — *Capital: SAR 500. Company Info Company Dar Al Majed Real Estate Co. (Al Majdiah) Core activities Real estate activities Capital SAR 300 mln No. of Shares 300 mln Nominal Value SAR 1/share IPO Info Offering Size 90 mln shares Offering Percentage 30% of total capital Retail Tranche 18 mln shares (20%) Minimum Subscription (Institutions) 250,000 shares Maximum Subscription (Institutions) 14.99 mln shares Minimum Subscription (Individuals) 10 shares Maximum Subscription (Individuals) 2.5 mln shares Retail Subscription Period Aug. 14-18, 2025 Final Allocation Aug. 20, 2025 Surplus Refund (if any) Aug. 21, 2025 Major Shareholders Shareholders Pre-IPO Post-IPO No. of Shares (mln) Ownership Stake No. of Shares (mln) Ownership Stake Dar Al Majed Holding 173.25 57.57% 121.27 40.43% Rafid Al-Haditha Investment Co. 22.5 7.5% 15.75 5.25% AWJ for Development & Investment Co. 22.5 7.5% 15.75 5.25% Other shareholders 81 27.43% 57.23 19.1% Public -- -- 90 30.0% Total 300 100 % 300 100%
Argaam
8 minutes ago
- Argaam
Retail subscription opens for Al Majdiah IPO
Retail investors began subscribing on Aug. 14 to 18 million shares of Dar Al Majdiah Real Estate Co. (Al Majdiah) at SAR 14 each, as set through the book-building process. The subscription period will run for three days. Al Majdiah plans to offer 90 million shares, representing 30% of its capital, with a nominal value of SAR 1, according to Argaam data. The receiving entities are Derayah Financial, Alinma Capital, Al Rajhi Capital, SNB Capital, Riyad Capital, ANB Capital, Alistithmar Capital, AlJazira Capital, GIB Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, BSF Capital, Yaqeen Capital, Albilad Capital, Musharaka Capital, EFG Hermes Saudi Arabia, and Awaed Alosool Capital.
