Saudi Arabia’s Dar Al Arkan to proceed with Dubai unit IPO on London exchange in Q1 2023 – The National

Saudi Arabia’s Dar Al Arkan to proceed with Dubai unit IPO on London exchange in Q1 2023 – The National

Saudi Arabia's biggest property developer Dar Al Arkan plans to list its Dubai unit in the UK in the first quarter of this year.

The initial public offering plans follow a corporate reorganisation of the subsidiary, as it seeks further international expansion.

The proposed listing of Dar Al Arkan Real Estate Development, which was renamed Dar Global Group, is subject to approvals by the UK Financial Conduct Authority (FCA) and the London Stock Exchange (LSE) and the disclosure of an FCA-approved prospectus, Dar Al Arkan said in a filing to the Tadawul stock exchange.