{"id":104152,"date":"2026-01-18T00:00:00","date_gmt":"2026-01-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=104152"},"modified":"2026-01-18T04:37:39","modified_gmt":"2026-01-18T04:37:39","slug":"dusting-off-the-ipo-playbook","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/01\/18\/dusting-off-the-ipo-playbook\/","title":{"rendered":"Dusting off the IPO playbook"},"content":{"rendered":"

The Public Investment Fund (PIF) is reportedly back in the IPO market<\/strong>, looking at taking some of its newer portfolio companies public \u2014 or selling down stakes \u2014 to raise capital, Semafor<\/a> reports, citing people it says are familiar with the matter. <\/p>\n

The new faces:<\/strong> ArcelorMittal Jubail<\/a>, the steel pipe maker supplying oil and gas projects, and Sela<\/a>, the fast-growing events and experiences company behind some of the Kingdom\u2019s biggest entertainment projects, are the newest names in the mix. Despite Tadawul falling nearly 13% in 2025<\/a>, the fund continued to tap domestic capital, selling down a 3.3% stake in Masar in a SAR 950 mn<\/a> transaction \u2014 the fund\u2019s first sell-down in over a year, following its roughly USD 1 bn disposal in STC.<\/p>\n

Also earmarked for the 2026 window: <\/strong>Saudi Global Ports<\/a>, district cooling firm Tabreed<\/a>, Cloudkitchens, Alkhorayef Petroleum<\/a>, and events organizer Richard Attias & Associates<\/a>, Semafor said.<\/p>\n

Meanwhile, there are a handful of previously-announced IPO plans that still don\u2019t have a<\/strong> concrete timeline<\/strong>, including medical procurement firm Nupco<\/a>, first announced in May 2024, contractor Nesma & Partners<\/a> (January 2025), Riyad Capital<\/a> (January 2025), and software company Saudi Information Technology (May 2025).<\/p>\n

The fund is also considering trimming stakes in already public companies<\/strong>, including Riyad Bank. Meanwhile, PIF-controlled agribusiness investor Salic might sell part of its 16% stake in dairy giant Almarai.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n","protected":false},"excerpt":{"rendered":"

The fund has continued to tap domestic capital, selling down a 3.3% stake in Masar in a SAR 950 mn transaction<\/p>\n","protected":false},"author":1,"featured_media":104153,"comment_status":"closed","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":[2419,10,2637,29,1151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-104152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-capital-markets","tag-enterpriseam-ksa","tag-ipo","tag-ipo-watch","tag-public-investment-fund-pif","wpautop","entry"],"acf":{"mongo_id":"cfe47f46-8682-4c27-9590-6419de27c783","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/1\/575.jpg","photo_position":"above","homepage_title":"","full_issue_title":"PIF looking to IPO pipe maker ArcelorMittal Jubail + events company Sela","related_issue":[104145],"teaser":"The fund has continued to tap domestic capital, selling down a 3.3% stake in Masar in a SAR 950 mn transaction"},"yoast_head":"\nDusting off the IPO playbook - 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