Middle East News: IPO for Saudi Home Financing Firm Is a First - Bloomberg:
Amlak International for Real Estate Finance plans to sell shares in an IPO this month, in what will be the first Middle Eastern sale since the coronavirus prompted governments to shut down economies.
The Saudi non-bank real estate finance company will offer 27.2 million shares, representing 30% of its capital, according to a statement. NCB Capital will manage the IPO process.
The sale would follow a February offering by hospital operator Dr Sulaiman Al Habib Medical Services Group Co., which raised 2.63 billion riyals ($701 million). Saudi Arabia’s BinDawood Holding is pushing ahead with the IPO of its supermarket business, according to people with knowledge of the matter.
Amlak International had postponed an earlier announcement to sell shares, people familiar with the matter told Bloomberg News in March.
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