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21/01/2026 05:44 AST
Saleh Abdulaziz Al Rashed & Sons Company (SAR), a key Saudi provider of integrated construction materials, mining, and industrial spare-parts solutions, has announced its intention to proceed with an initial public offering (IPO) and the listing of its ordinary shares on the Main Market of the Saudi Exchange.
The Capital Market Authority on September 11, 2025, had approved the company's application for registering its share capital and the offering of 5,580,000 of the company's ordinary shares, representing 30% of the company's total issued share capital of SAR186 million ($49.6 million).
The company had also received the conditional approval of the Saudi Exchange to list its shares on June 24, 2025.
The offering price will be determined following the institutional book-building period which will commence on February 1, and will end on February 5, said a statement.
All offer shares will be sold by the current shareholders, and the company will not receive any proceeds from the offering. Net proceeds will be distributed to the selling shareholders on a pro-rata basis after deduction of offering expenses, it said.
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