Al Othaim Investment unveils IPO plans on Tadawul

The signing of the agreement

Abdullah Al Othaim Investment Co. signed an agreement with Saudi Fransi Capital to act as the financial advisor, lead manager, bookrunner, and underwriter on its potential offering on the Saudi Exchange (Tadawul).

Meshaal Bin Omairh, CEO of Al Othaim Investment, and Salam Al-Khunaizi, CEO of Saudi Fransi Capital, signed the agreement in the presence of the chairman and members of the board of directors.

The agreement is in line with the company’s expansion strategy and keenness to boost growth in the different business sectors while contributing to the Kingdom’s economy, Al Othaim Investment said in a statement.

In addition, the agreement is expected to enhance Al Othaim Investment’s growth, boost its diversified portfolio, and enable strong performance, as the company already has a stable financial position.

Moreover, the company adopts a diversified business model with multiple attractive and stimulating areas of investment. This includes commercial centers, hospitality, real estate investment, entertainment and cinema, fashion, as well as restaurants and cafes.

Al Othaim Investment owns 12 commercial complexes called "Al Othaim Mall". It also runs several companies under its umbrella, the most notable of which are Abdullah Al Othaim Leisure Co., Abdullah Al Othaim Fashion Co., Abdullah Al Othaim Foods Co., and Al Othaim Real Estate Investment and Development Co., as well as two cinema companies and a hospitality firm.

“The agreement represented a key step that would boost the company’s economic foothold and will enable it to achieve growth targets and implement expansion plans in line with Saudi Vision 2030,” Bin Omairh said.

Bin Omairh also pointed to the company’s launch of new integrated projects in new regions across the Kingdom. This is in addition to seizing the right opportunity and time to be listed on Tadawul to maximize the desired benefit.

The company recently unveiled its business portfolio of in-progress and future investment projects, including seven ongoing projects (five of which are expansion works for existing commercial complexes) worth over SAR 12 billion.

This is besides over 10 new projects in Riyadh, Dammam, Hail, Al Khobar, Madinah, Jubail, Jizan, Khamis Mushait, Al Qurayyat, Al Mithnab, and Buraidah.

Furthermore, the company has acquired a number of strategic sites across the Kingdom and will start implementation works in Q4 2023 and Q1 2024.

In mid-2022, Al Othaim Investment shelved plans to offer 30% of capital on Tadawul, awaiting the appropriate timing.

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