Saudi real estate firm Dar AlMajed to begin IPO bookbuilding on July 29
The book building process will commence on July 29, 2025, and close on August 4, 2025.
The offering proceeds will be distributed to the selling shareholders in proportion to the number of shares that will be sold by each of them, after deducting the offering expenses.
AlMajdiah has appointed Saudi Fransi Capital (BSF Capital) as financial advisor, lead manager institutional bookrunner and underwriter.
According to its website, AlMajdiah has developed over 2.5 million square meters, encompassing more than 180 completed projects.
Saudi has seen a series of real estate sector IPOs, with last month seeing Hamad & Ahmad Mohammed Al-Mozaini Real Estate Company announcing its intention to float on the Parallel Market, Nomu.
In March, Saudi's Umm Al Qura for Development and Construction saw its shares surge 30% on the group's debut on the Saudi Exchange's Main Market following a $523 million IPO.
(Writing by Bindu Rai, editing by Daniel Luiz)
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