Logo of Abdullah Al Othaim Investment Co.

Abdullah Al Othaim Investment Co. announced its intention to proceed with an initial public offering (IPO) on the Saudi Exchange (Tadawul), GIB Capital, in its capacity as financial advisor, lead manager, bookrunner and lead underwriter on the planned offering, said in a statement.

 

Al Othaim Investment plans to float 30% of its capital, or 30 million ordinary shares.

 

The final offer price will be determined at the end of the book-building period, GIB Capital said.

 

On December 5, 2021, the company filed for listing its shares in the main market, Argaam earlier reported.

 

On March 16, the Capital Market Authority (CMA) approved Al Othaim Investment’s application to offer 30 million shares.

 

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