{"id":94469,"date":"2025-02-17T00:00:00","date_gmt":"2025-02-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/17\/umm-al-qura-sets-sar-14-15-indicative-price-range-ahead-of-tadawul-ipo\/"},"modified":"2025-02-17T00:00:00","modified_gmt":"2025-02-17T00:00:00","slug":"umm-al-qura-sets-sar-14-15-indicative-price-range-ahead-of-tadawul-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/17\/umm-al-qura-sets-sar-14-15-indicative-price-range-ahead-of-tadawul-ipo\/","title":{"rendered":"Umm Al Qura sets SAR 14-15 indicative price range ahead of Tadawul IPO"},"content":{"rendered":"

Umm Al Qu<\/a><\/strong>ra for Development and Construction<\/a><\/strong> is guiding on a price range of SAR 14-15 <\/strong>per share for its upcoming Tadawul IPO<\/strong>, according to a regulatory filing<\/a> to the exchange. Umm Al Qura is taking a 9.1% stake<\/a> public in a primary offering on the main market.<\/p>\n

Proceeds: <\/strong>At the top of the range, the offering would see Umm Al Qura raise nearly SAR 2 bn in proceeds from the sale. Net proceeds from the offering will be directed toward covering land settlement costs, infrastructure development, and project financing for the group\u2019s Masar destination<\/a>. They will also support general corporate needs, including sales, marketing, administrative expenses, operations, and financing activities.<\/p>\n

Market cap: <\/strong>The pricing would give the PIF-backed real estate developer a SAR 21 bn market cap at listing in what would be the biggest IPO on Tadawul so far this year in terms of funds raised. Derayah Financial is trailing closely behind with SAR 1.5 bn<\/a> in targeted IPO proceeds.<\/p>\n

Institutional bookbuilding kicked off yesterday<\/strong> and is set to run until Thursday, 20 February. Investors in this category \u2014 including investment funds, GCC corporate investors, and qualified foreign investors \u2014 will be able to subscribe to a maximum of 71.9 mn shares each with the minimum limit set at 100k, according to the offering prospectus (pdf)<\/a>.<\/p>\n

What\u2019s next? <\/strong>A three-day bookbuilding period for retail investors is due to kick off on Wednesday, 5 March, whereby individual investors can book up to 2.5 mn shares each, with the minimum limit set at 10. The final allocation of shares is slated for Thursday, 13 March.<\/p>\n

ADVISORS- <\/strong>Albilad Capital is quarterbacking the transaction as lead manager, while also being joint bookrunner and underwriter alongside GIB Capital, AlRajhi Capital, and Alinma Invest. Receiving agents include SNB Capital, SAB Invest, BSF Capital, ANB Capital and Derayah Financial, among others.<\/p>\n

\n

ALSO ON OUR IPO WATCH-<\/p>\n

Waja<\/a><\/strong>\u2019s BoD greenlit the c<\/strong>ompany\u2019s decision to transition to the main market<\/strong>, it said in a<\/a>filing<\/a> to Tadawul. The Riyadh-based diversified conglomerate \u2014 which began trading on the parallel market Nomu back in 2023 \u2014 tapped Value Capital as its financial advisor for the transition which remains subject to regulatory approval and compliance with listing requirements. <\/p>\n","protected":false},"excerpt":{"rendered":"

The primary offering could see the company lock in nearly SAR 2 bn in IPO proceeds<\/p>\n","protected":false},"author":1,"featured_media":94470,"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":[2419,10,29,2452,3418],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-capital-markets","tag-enterpriseam-ksa","tag-ipo-watch","tag-tadawul","tag-umm-al-qura-development-and-construction","wpautop","entry"],"acf":{"mongo_id":"bebe0faf-d978-4c0d-97f6-600f33715b8e","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/295.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Umm Al Qura sets SAR 14-15 indicative price range ahead of Tadawul IPO","related_issue":[94462],"teaser":"The primary offering could see the company lock in nearly SAR 2 bn in IPO proceeds","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.377d0ccc-de02-4a87-ac1d-a74d453b1eb7.mp3"},"yoast_head":"\nUmm Al Qura sets SAR 14-15 indicative price range ahead of Tadawul IPO - 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