Alturki Holding, PIF consider Nesma & Partners IPO on Saudi exchange

This option is currently under discussion with shareholders and the Public Investment Fund (PIF), Alturki told Al Arabiya TV on the sidelines of the World Economic Forum held in Davos, expecting the company to have a strong presence in the market within a few years.

The Chairman added that the company’s business volume currently stands at approximately SAR 40 billion, distributed across the energy, infrastructure, and building sectors both locally and globally.

He explained that Nesma & Partners posted a compound annual growth rate (CAGR) of around 25% over the past 15 years, reaching 30% in the past four years.

Nesma & Partners acquired Kent, a firm specializing in energy services, with a business volume of approximately $1.7 billion outside the Kingdom, Alturki said. He added that Nesma & Partners is looking to acquire companies in this field both locally and globally.

Kent serves as the global arm for external expansion, the Chairman said, noting that the company is currently exploring several acquisition opportunities in preparation for announcing a deal soon in the data center sector outside Saudi Arabia.

Further, the company aims to play a significant role in Saudi Arabia, which is poised for remarkable growth as an economy and market.

The entry of the PIF into Nesma & Partners greatly helped develop the company’s business, positioning it as a key player in development, the Chairman said, expecting the market to grow by around 6-7%.

Nesma & Partners, established in 1981, is owned by four shareholders, Nesma Contracting Ltd, Alturki Holding, Rawabi Holding, and the PIF. The company provides innovative solutions to some major challenges in the energy, building and infrastructure sectors across the world, according to data available with Argaam.