‎Al Othaim Investment issues prospectus for 30% IPO on Tadawul

‎Al Othaim Investment issues prospectus for 30% IPO on Tadawul

Abdullah Al Othaim Investment Co. Issued today, May 18, the prospectus for its initial public offering (IPO) of 30 million shares on the Saudi Exchange (Tadawul).

On March 16, the Capital Market Authority (CMA) board approved the company’s application to float 30 million shares, or 30% of its share capital. The company’s capital is divided into 100 million shares.

Al Othaim Investment was established in 2005 in Riyadh.

The company’s business activities include the construction of all types of residential buildings; general construction of non-residential buildings such as, schools, hospitals, hotels, etc.; general construction of government buildings, erection of prefabricated constructions on the site; retail sale of games and toys in specialized stores, activities of government buildings cleaning services, and provision of maintenance services within facilities.

Participating parties: This tranche comprises the parties entitled to participate in the book-building process as specified under the book-building instructions. The number of shares that will be allocated initially is 30 million, representing 100% of the total offer size. Final allocation of the offer shares will be made after the end of the subscription period for individual investors. The lead managers shall have the right to reduce the number of shares allocated to participating parties to 27 million