The Board of Directors of Abdullah Al-Othaim Markets Company has agreed to sell a 13.35% stake in the capital of Abdullah Al-Othaim Investment Company, amounting to about 13.65 million shares, through an IPO in the market. Saudi Arabia.
According to Arabiya Net, Abdullah Al-Othaim Markets Company said in a statement, that the book value of Abdullah Al-Othaim Markets Investment Company, according to the last reviewed preliminary lists for the fourth quarter of 2021, amounted to About 234.57 million riyals.
The share of Abdullah Al-Othaim Markets from the revenues of the asset in question for the last three years amounted to about 29.48 million riyals for the year 2021, 13.3 million riyals in 2020, and 22.45 million riyals Real in 2019.
It clarified that the proceeds from the sale will be used to utilize liquidity in the company's main and complementary operations.
This came after the Saudi Capital Market Authority approved the request of Abdullah Al-Othaim Investment Company to offer 30 million shares for public subscription, representing 30% of the company's shares, noting that the Publish the prospectus well before the start date of the subscription.
Abdullah Al-Othaim Investment Company is one of the largest companies in Saudi Arabia in the field of construction, management and operation of large commercial complexes, and so far it owns 12 commercial complexes, according to its website, and was established in 1998. .
The Saudi Capital Market Authority has approved the request of Retal Urban Development Company to offer 12 million shares for public subscription, representing 30% of the company's shares.
It is noteworthy that the company was established in 2012 and focuses on developing and implementing residential and commercial projects in the Kingdom.
