The company stated on Monday that Saleh Abdulaziz Al Rashed & Sons Company, a Saudi provider of construction materials, mining, and industrial spare-parts solutions, has a price range for its initial public offering (IPO) and established an institutional book building.
The offer price has been set at SAR43- SAR45 per share, which will imply the market capitalization of between SAR800 million and SAR837 million upon listing.
The institutional book-building process will start on February 1 and will end at 3 pm Saudi time on February 5. The last offer price will depend on the finalization of the book-building process.
The Capital Market Authority of Saudi Arabia gave consent to the application submitted by the company to register its share capital and go ahead with the offering on September 22, 2025.
However, the Saudi Exchange, Tadawul, offered conditional approval for the listing on June 24, 2025. The offering includes 5.58 million shares, representing 30 percent of the company’s total issued share capital of 18.6 million ordinary shares.
The entire shares being offered will be sold by the existing shareholders, and the company will not get any proceeds out of the IPO. The net proceeds will be distributed to selling shareholders after subtracting the offering-related expenses.
Thus, the total share capital of Saleh Abdulaziz Al Rashed & Sons is SAR186 million, divided into shares at a nominal value of SAR10 each.
