Al-Motaqadimah Schools plans IPO on Tadawul

Al-Motaqadimah Schools Co. (MSC) is planning to float its shares in an Initial Public Offering (IPO) on the Saudi Stock Exchange (Tadawul).

GIB Capital and Adeem Capital were picked as joint financial advisors for its planned share sale, MSC said in a statement to Argaam.

MSC owns 21 schools in Saudi Arabia, and provides educational facilities and services for more than 25,000 students with almost 5,000 employees.

“We are looking forward to achieving MSC’s vision by developing the learning and educational environment, creating the highest quality school culture for students. This offering will create opportunities and allow us to expand our business and improve our brand,” said Abdulrahman Al-Haqbani, MSC’s board chairman.

Osamah Shaker, GIB Capital’s CEO and board member said: "This IPO will enhance investment in the educational sector in Saudi Arabia and we are extremely proud to be part of it. We look forward to continuing to play a leading role in Saudi capital markets.”

Elsewhere, Salman Alasmari, Adeem Capital’s Managing Director and Chief Executive Officer said: "MSC is a leading company committed to its community and we look forward to playing our role for a successful listing on Tadawul.”

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