Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- Gulf Bank loan book grew 3.8% in H1 2025 driven by its corporate portfolio
- ABK reports 9% y-o-y growth in net profit to KD 31.73 million for H1 2025
- Burgan Bank reports stable financial performance for H1
- Investcorp Capital names Sana Khater as new CEO
- Cityscape Global returns to Riyadh in November 2025
- Saudi Economic Council Reviews Progress in Vision 2030 Implementation
- Trump Says US to Hit India with 25% Tariff Starting August 1
- Boeing: Saudi Arabia Aims to Cement Role as Aviation Hub
- Beyon's revenue surges 9pc in H1; net profit hits $93m
- MSX index ends higher
30/07/2025 08:36 AST
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.
Institutional bookbuilding will be open until Aug. 4, while the retail subscription period will run from Aug. 14 to 18.
Saudi Arabia has been the most active venue for new share sales in the Middle East so far this year, with companies raising more than $3 billion. Still, recent listings have seen mixed performance as valuations in the kingdom come into focus amid a lower-for-longer oil price environment.
Developers like Almajdiah stand to benefit as Saudi Arabia loosens rules around foreign property investment and works to boost local home ownership rates under its broad economic diversification drive.
Al Ramz is another real estate firm that has regulatory approval to list. Building materials supplier Marketing Home Group is also set to go public in the next few weeks.
Established in 1999, Almajdiah develops residential communities primarily in Riyadh. BSF Capital, the investment banking arm of Banque Saudi Fransi, is arranging the transaction.
Gulfnews
| Ticker | Price | Volume |
|---|
31/07/2025
Gulf Bank held its first half 2025 earnings webcast on Tuesday, July 29, 2025, to present and discuss the Bank's financial performance. The webcast was organized by EFG Hermes and presented by David
Kuwait Times
31/07/2025
Al-Ahli Bank of Kuwait (ABK) proudly announced its robust financial results for H1 2025, once again affirming its position as a leading financial institution.
Financial performance
Kuwait Times
31/07/2025
Burgan Bank ("Burgan" or "the Bank") announced its financial results for the first half of 2025 (H1'25), for the period ending June 30, 2025. The results indicate continued operational progress and c
Kuwait Times
31/07/2025
Investcorp Capital, an investor in alternative investment opportunities within private markets, has announced the appointment of Sana Khater as its new Chief Executive Officer effective September 1.
Trade Arabia
31/07/2025
Leading Bahrain technology group Beyon has delivered solid results for the first six months of 2025 with its revenue surging by 9% to hit BD242.8 million ($644 million), while its net profit attribut
Trade Arabia
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia