Latest news with #DarAlMajed
Zawya
6 days ago
- Business
- Zawya
Saudi Arabia's Dar Al Majed sets IPO final price at top of the range
Saudi Arabia's Dar Al Majed Real Estate Company (AlMajdiah) has set its IPO final price at 14 riyals ($3.73) per share, at top of the indicated range, with the subscription covered 107 times. The real estate developer drew $36 billion in orders for its $336 million IPO, Bloomberg reported. The retail subscription is scheduled to start August 14 and will close by August 18. The company is floating 90 million ordinary shares, representing 30% of its share capital. The pricing implies a market capitalisation of SAR 1.26 billion. Last month, Saudi's Sinad Holding committed to subscribe as a cornerstone investor for 6.67 million shares in the IPO, representing around 2.22% of Al Majdiah's capital. Saudi Fransi Capital has been appointed as the financial advisor, lead manager, underwriter and bookrunner for the IPO. BSF Capital is arranging the offering. In recent months, Saudi Arabia has seen a series of real estate developers and construction companies looking to cash in on the real estate boom in the kingdom by raising funds through a public offering. This has been further boosted with the announcement of its updated law on non-Saudi real estate ownership, which will allow foreign individuals, companies, and entities to own properties in designated areas, with a maximum 5% fee. IPOs in the pipeline in Saudi Arabia include property developer AlRamz Real Estate Company and Marketing Home Group, a construction and building solutions company. (Writing by Bindu Rai, editing by Brinda Darasha)
Argaam
7 days ago
- Business
- Argaam
Al Majdiah offering price set at SAR 14/share on Tadawul
Logo of Dar Al Majed Real Estate Co. (Al Majdiah) BSF Capital, in its capacity as the financial advisor, lead manager, and institutional bookrunner for the initial public offering (IPO) of Dar Al Majed Real Estate Co. (Al Majdiah), announced the successful completion of the book-building process for the institutional tranche. The final price of the IPO on the Main Market (TASI) was set at SAR 14 per share, with the offering oversubscribed by 107 times.
Zawya
30-07-2025
- Business
- Zawya
Saudi's Sinad Holding buys 6.67mln shares of Dar Al Majed as cornerstone investor
Saudi Arabia's Sinad Holding Co. has committed to subscribe as a cornerstone investor for 6.67 million shares in the IPO of Dar Al Majed Real Estate Co. (AlMajdiah). The share purchase represents around 2.22% of Al Majdiah's capital, Sinad said. The allocation was approved by the selling shareholders in the company's supplementary prospectus, published on July 29. The move aligns with Sinad's objective to strengthen and diversify its investment portfolio by targeting opportunities that help maximise returns. AlMajdiah has set the price range for its IPO between 13.5-14 Saudi riyals ($3.60-3.73). Last week, the developer announced floating 30% of its share capital, or 90 million shares, on the Main Market (TASI). The book-building process commenced on July 29 and will close on August 4, 2025. All shares on offer were subscribed within minutes of the books opening, Bloomberg reported. Saudi Fransi Capital has been appointed as the financial advisor, lead manager, underwriter and bookrunner for the IPO.
Zawya
22-07-2025
- Business
- Zawya
Saudi Arabia's Dar AlMajed plans to list 30% stake via IPO
Saudi Arabia's Dar AlMajed Real Estate Company is planning to list a 30% stake on the Gulf country's main bourse through an initial public offering, it said on Tuesday, as more firms in the kingdom pursue a public listing. The company is offering 90 million shares to investors and the final price for the offering will be determined through a book-building period running from July 29 to August 4, it said in a statement. The company has appointed Saudi Fransi Capital (BSF Capital) as financial advisor for the IPO. (Reporting by Federico Maccioni, editing by Emelia Sithole-Matarise)
