Arab Diyar delays IPO again
Al Yadria Arabia Real Estate Development Company has announced the postponement of its plans to list its shares on the Saudi Stock Market, after the Capital Market Authority had approved the offering of 30% of its shares, approximately 325 million shares, earlier this year. This postponement comes days after Mutlaq Al-Ghureiri Contracting Company canceled its initial public offering, despite completing the order book process. Al Yadria Arabia operates in the real estate development sector in Saudi Arabia and is developing a project in Mecca with an investment value of around 10 billion riyals, comprising 12 towers and 2,600 housing units.
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