Latest news with #SaudiFransiCapital
Zawya
a day ago
- 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)
Zawya
22-07-2025
- Business
- Zawya
Saudi real estate firm Dar AlMajed to begin IPO bookbuilding on July 29
Saudi Arabia's Dar AlMajed Real Estate Company (AlMajdiah) will proceed with its IPO on the Tadawul of the kingdom's stock exchange, with a float representing 30% of its share capital or 90 million shares. 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)
Zawya
09-07-2025
- Business
- Zawya
Saudi Arabia's MIS signs framework deal to add 112 MW to data centre capacity
Saudi-listed Al Moammar Information Systems Company (MIS) announced on Wednesday that it has signed a framework agreement with Saudi Data Centre Fund 1, represented by Saudi Fransi Capital, to expand existing data centre infrastructure with up to 112 megawatts (MW) of additional capacity. MIS was awarded a design-build contract for the initial 32 MW capacity currently under development and is also acting as facility manager for these sites, it said in a stock exchange statement. The statement said contract duration for the expansion project is 36 months, adding that the value of the agreement will be determined upon receipt of development notices from the Fund. Past stock exchange notices from MIS have stated that it is the exclusive leasing agent and the facilities manager for the six data centres owned by Saudi Data Centre Fund 1. (Editing by Anoop Menon) (
Zawya
23-06-2025
- Business
- Zawya
Saudi's Sport Clubs sets IPO price range, to raise maximum of $69mln
Riyadh-based Sport Clubs Company has set the price range for its initial public offering (IPO) on the Saudi Exchange (Tadawul) between 7 and 7.50 Saudi riyals ($1.87.25-2) per share. The company will raise a minimum of SAR 240.1 million to a maximum of SAR 257.25 million ($68.55 million) from the listing, Saudi Fransi Capital, the financial advisor, underwriter and bookrunner, said in a statement published on the Saudi stock exchange on Sunday. The book-building period for the institutional tranche, which started on June 22, will end on June 26. In March 2025, the company received approval from the Capital Market Authority to sell 34.3 million shares, representing 30% of its share capital, on the main market (TASI). Participating entities can apply for a minimum of 100,000 shares, with a maximum of 5,719,999 shares. The final price will be determined after the completion of the book-building process, followed by the retail subscription, representing 20% of the total shares. Set up in 1994, Sports Clubs operates 56 branches across 18 cities in the kingdom. Its portfolio includes 41 men's clubs under the Body Masters brand, which was launched decades ago, and 15 women's clubs under the Body Motions brand, which was launched four years ago. A 2025 outlook by Saudi brokerage Al Rajhi Capital estimates the kingdom could witness between 50 to 60 IPOs over the next two years, with seven already approved or closed, while 97 IPOs remain under review.
