{"id":104392,"date":"2026-01-21T00:00:00","date_gmt":"2026-01-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=104392"},"modified":"2026-01-21T04:23:18","modified_gmt":"2026-01-21T04:23:18","slug":"first-prospectus-of-the-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/01\/21\/first-prospectus-of-the-year\/","title":{"rendered":"First prospectus of the year"},"content":{"rendered":"

Saleh Abdulaziz Al Rashed & Sons Co.<\/a><\/strong> is the first company to issue a prospectus for a Tadawul IPO in 2026, announcing plans<\/strong> to sell a 30% stake (5.58 mn shares) on the<\/strong> main market<\/strong>, according to its prospectus<\/a>. The construction materials and mining company secured the necessary regulatory approvals for the listing back in September<\/a>.<\/p>\n

The structure:<\/strong> The entirety of the shares will be offered to institutional investors, each able to book 100k-930k shares during the bookbuilding period running from Sunday, 1 February to Thursday, 5 February. Up to 30% of the shares on offer will be open to retail investors from Thursday, 12 February to Tuesday, 17 February, with retail investors being able to apply for up to 250k shares each, with a minimum of 10 shares. Final allocations will be announced on Tuesday, 24 February.<\/p>\n

\n

Breaking the pattern?<\/p>\n

Saleh Abdulaziz Al Rashed\u2019s IPO is on track to be the first on the Tadawul after <\/strong>closing a bruising 2025<\/a><\/strong>, which saw the benchmark index fall nearly 13% in its steepest annual drop since the oil price crash of 2015. <\/p>\n

It was also a tough year for IPOs<\/strong>, with a large handful of companies sustaining steep drops from their IPO pricing by the end of 2026, while others shelved their IPO plans altogether. <\/p>\n

\n

More transaction details<\/p>\n

The selling shareholders will collectively retain a controlling 70% interest in <\/strong>the company.<\/strong> Abdulaziz Saleh Al Rashed \u2014 currently the largest shareholder with 35.8% \u2014 will see his stake reduced to 25.1%, while Abdullah Saleh Abdulaziz Al Rashed\u2019s 20.8% stake will be diluted to 14.6%. Substantial shareholders will be subject to a six-month lock-up period starting from the first day of trading.<\/p>\n

Unlike most IPO structures, the company will not receive any funds from this offering.<\/strong> After deducting estimated IPO-related expenses of SAR 20 mn, the net proceeds will be distributed entirely to the selling shareholders on a pro-rata basis.<\/p>\n

About the company:<\/strong> Founded in 1975, Saleh Abdulaziz Al Rashed & Sons operates primarily in quarrying, crushers, and construction materials, supplying aggregates and related inputs across multiple regions in Saudi Arabia. The group runs operations in Riyadh, Jeddah, Jizan, Tabuk, Madinah, and Khamis Mushait, and positions itself as a beneficiary of Vision 2030-linked infrastructure and construction demand.<\/p>\n

ADVISORS-<\/strong> ANB Capital is leading the transaction as the financial advisor, lead manager, bookrunner, and underwriter. Receiving agents for the offering include ANB Capital, Alinma Capital, Saudi Fransi Capital, Al Rajhi Capital, Riyad Capital, Albilad Investment, Al Jazira Capital, Alistithmar Capital, Derayah Financial, SNB Capital, Yaqeen Capital, Al Khabeer Capital, SAB Invest, Sahm Capital, GIB Capital, Musharaka Capital, EFG Hermes KSA, Awaed Alosool Capital, and Dinar Investment.<\/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 book-building period for institutional investors runs between 1-5 February<\/p>\n","protected":false},"author":1,"featured_media":104393,"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":[4693],"tags":[10,29,4692],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-104392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-big-story-today","tag-enterpriseam-ksa","tag-ipo-watch","tag-the-big-story-today","wpautop","entry"],"acf":{"mongo_id":"6e027955-e11f-4f84-857f-7b16bb259741","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/598.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saleh Abdulaziz Al Rashed to sell 30% stake on Tadawul","related_issue":[104387],"teaser":"The book-building period for institutional investors runs between 1-5 February"},"yoast_head":"\nFirst prospectus of the year - 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