Saudi Dar Al Arkan’s global arm will be listed on LSE on February 28

Saudi Dar Al Arkan’s global arm will be listed on LSE on February 28

Dar Global, the luxury international real estate developer, is expected to list on London Stock Exchange (LSE) on February 28.

The company confirmed that its prospectus in relation to the admission has been approved by the Financial Conduct Authority (FCA) on Thursday.

"It is expected that ordinary shares in Dar Global will be admitted to the Standard listing segment of the Official List of the FCA and to trading on the Main Market for listed securities of the LSE with effect from 08:00 a.m. GMT on 28 February 2023," Dar Global said.

Dar Global, which is the international arm of Saudi Arabian real estate developer Dar Al Arkan, plans to directly list in LSE's main market at a valuation of about $600 million.

The developer focuses on developing real estate projects comprising second homes for internationally mobile customers, in locations across the Middle East and Europe, including downtown Dubai, Muscat and the Costa del Sol region in Southern Spain.

In February 2023, Dar Global completed a private placement by issuing 21,621,612 ordinary shares at a price of $3.33 per share to certain institutional and other investors to raise $72 million gross proceeds, the company said in a statement.

Following the private placement Dar Al Arkan Real