Riyadh, Saudi Arabia—Al Awali Real Estate Company of Saudi Arabia plans to raise $133 million by offering 20 percent of its shares on Nomu-Parallel Market.
According to its CEO, Naif Alturaysi, the Saudi real estate developer will float its stake by the first quarter of 2023 as a step toward obtaining the funds that will be needed for the expansion plans the company has in store for the Kingdom.
The company has a capitalization of $53.33 million, and its shares are expected to be offered at between SR25 and SR32.