Saudi Al-Othaim Group intends to offer a stake in the shares of its subsidiary company, which owns the commercial centers, for public subscription in the Saudi market, Tadawul.
According to Arabiya Net, sources told Bloomberg Agency that the value of the offering could range from 1.5 to 2 billion dollars.
The sources pointed out that Al-Othaim Investment Company, which operates entertainment and shopping centers in the Kingdom, has appointed GB Capital LLC to provide advice in the IPO.
The sources indicated that the offering could take place in the first half of 2021, noting that no final decision had been made regarding the offering.
According to the agency, the share of Al-Othaim Holding in the markets of Abdullah Al-Othaim amounts to $ 766 million.
It is mentioned that Abdullah Al-Othaim Markets Company listed on the Saudi Stock Exchange under the symbol (4001), in which Al-Othaim Holding Company owns 27.66% as the largest shareholder in the company.
The agency expected that the evaluation of the company will reach between one and a half billion and two billion dollars, and that the offering will take place in the first half of next year.
It is noteworthy that Al-Othaim markets have been listed in the Saudi stock market since mid-July of 2008, and their market value at the end of trading yesterday is about 10.45 billion riyals.
(Fun Knowledge of Knowledge)
