{"id":101964,"date":"2025-10-30T00:00:00","date_gmt":"2025-10-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/30\/refrigeration-company-cgs-holding-looks-to-debut-30-on-tadawul\/"},"modified":"2025-10-30T00:00:00","modified_gmt":"2025-10-30T00:00:00","slug":"refrigeration-company-cgs-holding-looks-to-debut-30-on-tadawul","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/30\/refrigeration-company-cgs-holding-looks-to-debut-30-on-tadawul\/","title":{"rendered":"Refrigeration company CGS Holding looks to debut 30% on Tadawul"},"content":{"rendered":"

CGS Holding gears up for a Nomu debut: <\/strong>Saudi refrigeration systems manufacturer Consolidated Gr\u00fcnenfelder Saady Holding Company (CGS Holding) plans to offer a 30% stake \u2014 good for 30 mn shares \u2014 in a secondary share sale on Tadawul\u2019s main market, according to its prospectus (pdf)<\/a>. CGS claims to have a \u201cmarket share of c. 45% in transport refrigeration and customers across critical industries including the F&B, and pharma sectors,\u201d according to the IPO fact sheet (pdf)<\/a>.<\/p>\n

Subscriptions open next month:<\/strong> The IPO will be open to institutional and retail investors, with up to 20% clawback for retail subscribers. The subscription period for institutional investors will run from 5-11 November, followed by the retail window, 26\u201327 November. Shares will be allocated on 3 December. Shares of substantial shareholders will be in lock up for a period of six months starting from the first day of trading.<\/p>\n

About the company: <\/strong>CGS traces its origins to 1976, when it began as a manufacturer of refrigerated trailers and truck bodies. Over the following decades, the group expanded its footprint through subsidiaries in Riyadh, Jeddah, and Bahrain, producing cold-storage systems, stationary refrigeration facilities, and customized temperature-controlled units for sectors including F&B, pharma, energy, and telecom. The company is also expanding into the medical, telecom, oil and gas and defense sectors, according to the fact sheet.<\/p>\n

ADVISORS: <\/strong>Aljazira Capital is acting as financial advisor, lead manager, underwriter, and joint bookrunner alongside Arqaam Capital; Himmah Capital as advisor to the selling shareholders; Latham & Watkins as legal counsel to the company; PwC as financial due diligence advisor; Ernst & Young as auditor; and Euromonitor International as market consultant.<\/p>\n

Receiving agents:<\/strong> Aljazira Capital, BSF Capital, Al Rajhi Capital, SNB Capital, Riyad Capital, Albilad Investment Company, Alistithmar Capital, Derayah Financial, Alinma Capital, ANB Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, GIB Capital, Musharaka Capital, EFG Hermes KSA, and Awaed Alosool Capital. <\/p>\n","protected":false},"excerpt":{"rendered":"

It claims to have a market share of 45% in the domestic market.<\/p>\n","protected":false},"author":1,"featured_media":101965,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2542],"tags":[4466,10,29],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-cgs-holding","tag-enterpriseam-ksa","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"8f37abdd-2435-4c3f-9d5f-fcbe3245df57","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/10\/1712.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Refrigeration company CGS Holding looks to debut 30% on Tadawul","related_issue":[101954],"teaser":"It claims to have a market share of 45% in the domestic market.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.46d7c86c-6539-4d12-b7a0-401e8630b12a.mp3"},"yoast_head":"\nRefrigeration company CGS Holding looks to debut 30% on Tadawul - 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