Latest news with #UQDC
Argaam
28-03-2025
- Business
- Argaam
Umm Al Qura for Development debuts on TASI today at SAR 15/share
Umm Al Qura for Development and Construction Co. (UQDC) starts trading on the Main Market (TASI) today, March 24, under the symbol 4325 and ISIN Code SA169G7I3IH8, at a price of SAR 15 per share. The stock will trade in the first three days with daily and static price fluctuation limits of ±30% and ±10%, respectively. From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10%, while the static price fluctuation limits will no longer apply. For More IPOs UQDC is the fifth listing on TASI in 2025 after Arabian Company for Agricultural & Industrial Investments (Entaj) on March 17, Almoosa Health Co. on Jan. 7, Nice One Beauty Digital Marketing Co. on Jan. 8, and Derayah Financial Co. on March 10. In 2024, 13 companies listed on Tadawul, in addition to Alistithmar AREIC Diversified REIT Fund. Following UQDC listing, the number of companies listed on TASI reached 234, along with 19 real estate traded funds. The company offered 130.79 million shares, or 9.09% of its capital, on TASI. It allocated 90% of the shares on offer to institutional investors, while the remaining 10% was set aside for retail investors. The retail IPO was 20x covered, with retail requests of nearly SAR 3.93 billion. Meanwhile, institutional IPO was 241x oversubscribed. A minimum of 10 shares was allocated to each investor, while the remaining shares will be allocated on pro rata, with an average allocation factor of 1.03%. Company info UQDC is a closed joint-stock company in Saudi Arabia, established in 2012 by royal decree. It develops real estate assets along King Abdulaziz Road in Makkah, acquiring, managing, investing in, selling, and leasing properties under the "MASAR" brand. The company's activities include land acquisition, sales, subdivision, off-plan sales, and property management. It also handles residential and commercial construction, including schools, hospitals, hotels, roads, bridges, and tunnels. UQDC's current capital stands at SAR 14.39 billion, divided into 1.44 billion shares, at SAR 10 per share. Company Profile Company Umm Al-Qura for Development & Construction Co. (UQDC) Core Activities Pre-IPO Capital SAR 13.08 bln Post-IPO Capital SAR 14.39 bln Number of Shares before IPO 1.31 bln Number of Shares after IPO 1.44 bln Share Par Value SAR 10 Company Shareholders Shareholders Before IPO After IPO Number of Shares (mln) Ownership (%) Number of Shares (mln) Ownership (%) General Organization for Social Insurance 345.98 26.45% 345.98 24.05% Public Investment Fund 282.30 21.59% 282.30 19.62% Dallah Albaraka Holding 103.11 7.88% 103.11 7.17% Abdullah Saleh Abdullah Kamel* 56.30 4.30% 56.30 3.91% Real Estate Development Co.* 53.22 4.07% 53.22 3.70% Dallah Trans Arabia Co.* 43.00 3.29% 43.00 2.99% Mabahij Al Arabia for Real Estate Development Co. Ltd.* 38.78 2.97% 38.78 2.70% Al Mawajid International for Real Estate Development Co. Ltd. 13.37 1.02% 13.37 0.93% Muhiyuddin Saleh Abdullah Kamel* 12.19 0.93% 12.19 0.85% Abdullah Mohammed Abdo Abdullah Yamani* 10.20 0.78% 10.20 0.71% Dallah Al Baraka Investment Holding Co.* 0.40 0.03% 0.40 0.028% Yasser Abdulaziz Mohammed Abu Ateek 0.10 0.01% 0.10 0.007% Current shareholders classified as the public 348.90 26.68% 348.90 24.25% Public - -- 130.79 9.09% Total 1,307.86 100% 1,438.67 100%
Argaam
24-03-2025
- Business
- Argaam
UQDC surges 30% on TASI debut
Shares of Umm Al Qura for Development and Construction Co. (UQDC) surged 30% in their debut trading session on the Main Market (TASI) today, March 24, reaching SAR 19.50, up SAR 4.50 from the listing price of SAR 15. The stock saw a trading volume of 6.5 million shares, with a total turnover of SAR 125 million, executed through approximately 5,500 transactions. UQDC, trading under the symbol 4325 and ISIN SA169G7I3IH8, was listed at SAR 15 per share, with a nominal value of SAR 10. The stock will trade in the first three days with daily and static price fluctuation limits of ±30% and ±10%, respectively. From the fourth trading day onwards, the daily price fluctuation limit will revert to ±10%, while the static price fluctuation limit will no longer apply. The company earlier floated 130.79 million shares, or 9.09% of its capital. As much as 90% of the shares on offer were allocated to institutions, while the remaining 10% was allotted to retail investors.
Argaam
05-03-2025
- Business
- Argaam
Retail subscription to 13.08M UQDC shares starts on TASI today
Umm Al Qura for Development and Construction Co. (UQDC) launches today, March 5, a retail offering for 13.08 million shares on the Main Market (TASI) at SAR 15 each, as determined by the book-building process. The shares allocated to individual subscribers represent 10% of total shares offered for public subscription. For More IPOs The subscription period continues for three days until March 9. In Dec. 23, 2024, the Capital Market Authority (CMA) approved the company's application to list and offer 130.79 million shares on TASI, representing 9.09% of its capital. Institutional offering ended last week, with a coverage ratio of 241 times. UQDC will allocate 8.88 million shares, representing 0.62% of its post-IPO capital, to Takatuf Holding Group as a cornerstone investor. MASAR's developer will be the third to list on TASI this year following Derayah Financial and Arabian Company for Agricultural & Industrial Investments' (Entaj) IPO on Feb. 20. and Feb. 26, respectively. 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 info UQDC is a closed joint-stock company in Saudi Arabia, established in 2012 by royal decree. It develops real estate assets along King Abdulaziz Road in Makkah, acquiring, managing, investing in, selling, and leasing properties under "Masar" brand. The company's activities include land acquisition, sales, subdivision, off-plan sales, and property management. It also handles residential and commercial construction, including schools, hospitals, hotels, roads, bridges, and tunnels. UQDC's pre-IPO capital stands at SAR 13.08 billion, divided into 1.31 billion shares at SAR 10 per share. Following the offering, capital will rise to SAR 14.39 billion with 1.44 billion shares. MASAR MASAR is one of the region's largest urban redevelopment projects, located in western Makkah. It spans 3.65 km from the Third Ring Road and Umm Al-Qura Road to Jabal Omar, covering 1.25 million square meters across 205 land plots. The net built-up area is 460,900 square meters, excluding roads, open spaces, and service areas. As of November 2024, 99.77% of core infrastructure work was complete, with full completion expected in H1 2025. According to the prospectus, MASAR will include residential apartments, serviced apartments, hotels, retail centers, healthcare facilities, and office spaces. The table below shows the percentage of each asset type within MASAR's investment land: MASAR Assets Type Percentage of Investment Land Plots Area ('000 sqm) Serviced Apartments 28.8% 59 184.8 Hotels 26.3% 54 168.5 Residential Units 29.6% 66 189.4 Retail Centers 13.3% 22 85.0 Healthcare Facilities 2.1% 4 13.2 Total 100% 205 640.9 With core infrastructure nearing completion, the development strategy focuses on four areas. The company will develop and retain 28% of investment land, either directly or through joint ventures, while 4% will be developed and sold. Additionally, 14% will be leased, and 54% will be sold. Superstructure development began in 2022 for select self-developed plots and is set to finish by 2026. The full MASAR Destination project is expected to complete by 2039. Company Profile Company Umm Al-Qura for Development & Construction Co. Core Activities Real estate development and construction, The company owns MASAR Destination project. Pre-IPO Capital SAR 13.08 bln Post-IPO Capital SAR 14.39 bln Number of Shares before IPO 1.31 bln Number of shares after IPO 1.44 bln Share Par Value SAR 10 Retail IPO Summary Issue Percentage 9.09% after increase (10% before increase) Price SAR 15 Number of offered shares 13.08 mln Eligible Subscribers Individual investors Minimum subscription limit 10 shares Maximum subscription limit 2.5 mln shares Offer period March 5-9, 2025 Final Allocation March 13, 2025 Refund (if any) March 16, 2025 Company Shareholders Shareholders Before IPO After IPO Number of Shares (mln shares) Ownership (%) Number of Shares (mln shares) Ownership (%) General Organization for Social Insurance 345.98 26.45% 345.98 24.05% Public Investment Fund 282.30 21.59% 282.30 19.62% Dallah Al-Baraka Holding Co. 103.11 7.88% 103.11 7.17% Abdullah bin Saleh bin Abdullah Kamel* 56.30 4.30% 56.30 3.91% Real Estate Development and Development Co.* 53.22 4.07% 53.22 3.70% Dallah Trans Arabia Co.* 43.00 3.29% 43.00 2.99% Mabahij Al Arabiya for Real Estate Development Co. Limited 38.78 2.97% 38.78 2.70% Al Mawajid International for Real Estate Development Co. Limited* 13.37 1.02% 13.37 0.93% Muhiuddin bin Saleh bin Abdullah Kamel* 12.19 0.93% 12.19 0.85% Abdullah Mohammed Abdo Abdullah Yamani* 10.20 0.78% 10.20 0.71% Dallah Al Baraka Investment Holding Co.* 0.40 0.03% 0.40 0.028% Yasser Abdulaziz Mohammed Abu Atiq 0.10 0.01% 0.10 0.007% Current shareholders classified as the public 348.90 26.68% 348.90 24.25% Public - -- 130.79 9.09% Total 1307.86 100% 1438.67 100% *Shareholders acting by agreement
