Latest news with #Almajdiah
Bloomberg
06-08-2025
- Business
- Bloomberg
Saudi Developer Draws $36 Billion in Orders for $336 Million IPO
Saudi Arabia's Dar Al Majed Real Estate Co. drew 135 billion riyals ($36 billion) in orders for its $336 million initial public offering, as liberalized foreign ownership rules spark interest in the kingdom's property market. The developer, better known as Almajdiah, priced the offering at 14 riyals per share, the top of the marketed range, it said in a statement Tuesday. Shareholders are selling a 30% stake, or about 90 million shares, with the pricing implying a valuation of 4.2 billion riyals.
Bloomberg
29-07-2025
- Business
- Bloomberg
Saudi Arabian Developer's $336 Million IPO Sells Out in Minutes
Saudi Arabia's Dar Al Majed Real Estate Co. saw demand for all shares on offer in its 1.26 billion riyals ($336 million) initial public offering within minutes of books opening on the deal in Riyadh, according to people familiar with the matter. The real estate developer's shareholders will sell a 30% stake, or about 90 million shares, at between 13.5 and 14 riyals apiece, the people said, declining to be identified discussing private information. The top end of the range values the firm — better known as Almajdiah — at 4.2 billion riyals.
