{"id":90903,"date":"2025-12-10T00:00:00","date_gmt":"2025-12-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/12\/10\/cgs-ekes-out-0-8-gain-on-first-day-of-tadawul-trading\/"},"modified":"2025-12-10T00:00:00","modified_gmt":"2025-12-10T00:00:00","slug":"cgs-ekes-out-0-8-gain-on-first-day-of-tadawul-trading","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/12\/10\/cgs-ekes-out-0-8-gain-on-first-day-of-tadawul-trading\/","title":{"rendered":"CGS ekes out 0.8% gain on first day of Tadawul trading"},"content":{"rendered":"

CGS<\/strong> creeps up on main market debut: <\/strong>Saudi cold-chain manufacturer Consolidated<\/a>Gr\u00fcnenfelder Saady Holding (CGS)<\/a> inched up 0.8% on debut to close its first day of trading on Tadawul at SAR 10.08 per share, according to market data. The stock swung between a high of SAR 10.79 and a low of SAR 9.70, with around 19.2 mn shares changing hands across 16.7k trades worth SAR 192.5 mn. <\/p>\n

IN CONTEXT- <\/strong>The gain, modest as it is, puts CGS alongside Almasar Education<\/a> as one of the rare IPOs to post a positive first day performance in 3Q, defying a broader run of weaker debuts (think Cherry Trading<\/a> and Marketing Home Group<\/a>) amid liquidity strains. \u201cEveryone will adjust to the idea that not all IPOs will perform 30-40% on day one,\u201d Mostafa Gad, EFG Hermes\u2019 head of investment banking, told Bloomberg<\/a>. \u201cWe\u2019re becoming a mature market,\u201d he added. <\/p>\n

REFRESHER-<\/strong> The cold-chain manufacturer, which holds around 41% of the Kingdom\u2019s automotive refrigeration and vehicle-body solutions market, took a 30% stake to market<\/a> in a fully secondary offering. Shares priced at SAR 10 apiece, valuing the company at around SAR 1 bn at listing and handing selling shareholders some SAR 300 mn in gross IPO proceeds. <\/p>\n

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

\n

\n

ALSO- CGS secured two contracts worth SAR 195.5 mn from Aramco and Almarai<\/strong>, it said in two separate disclosures to the exchange yesterday. The company inked a SAR 166 mn<\/a> contract with Aramco Nabors Drilling for a customized solutions project, while signing another contract worth SAR 29.5 mn<\/a> with Almarai to provide a stationary refrigeration solution for one of its food processing facilities in the Kingdom. <\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: CGS secures two contracts worth SAR 195.5 mn from Aramco and Almarai<\/p>\n","protected":false},"author":1,"featured_media":90904,"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":[229],"tags":[265,228,31],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-cold-chain","tag-ipo-watch","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"c8bce597-2a04-4f83-bc9b-77301906fb02","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/11\/496.jpg","photo_position":"above","homepage_title":"","full_issue_title":"CGS ekes out 0.8% gain on first day of Tadawul trading","related_issue":[90892],"teaser":"PLUS: CGS secures two contracts worth SAR 195.5 mn from Aramco and Almarai","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/12\/.b9558c71-af5d-4b14-ad3e-f8f2332bb522.mp3"},"yoast_head":"\nCGS ekes out 0.8% gain on first day of Tadawul trading - 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