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Al Arabiya to IPO in Saudi MENA

Al Arabiya to IPO in Saudi 

If you’ve seen a billboard while driving through Riyadh, it was probably provided by the Arabian Services Contracting Company, Al Arabia. Saudi Arabia’s largest outdoor advertisement company is ready to offer 30% of its 50 million share capital. 90% of the shares sold will go to institutional participants, while the remaining 10% will be kept for individual investors. 

Al Arabia is partly owned by media conglomerate MBC, which holds a minority equity stake.

why it matters

Saudi Arabia's stock exchange (Tadawul) has witnessed a boom in IPOs. Earlier this year, ACWA Power and Solutions by STC had major public offerings. In 2021 so far, the Tadawul represents 78% of MENA's IPOs.