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Business

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Al Awali to raise US$133m

Traders sit at desks monitoring stocks in Saudi Arabia.
By TRENDS Desk
October 15, 2022 11:19 am
  • 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 a capitalization of $53.33 million, and its shares are expected to be offered at between SR25 and SR32

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.

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INSEAD Day 4- 300x600
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