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الاقتصادية
Al-Ghawairi pulls IPO to protect sellers
Muttlaq Al-Ghaweiry Contracting Company has postponed its initial public offering, which was originally scheduled to raise 3 billion riyals in the Saudi market, despite the shares being oversubscribed multiple times during the order book buildup. The decision was made after careful consideration of the company’s interests, including its strategic goals, with the possibility of reconsidering the offering in the future. The individual investor subscription was set to begin on June 15, and it involved offering 240 million shares with an estimated market value ranging between 8.8 and 10 billion riyals.
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