CMA approves offering 30% of Abdullah Al Othaim Investment in IPO

Logo of Abdullah Al Othaim Investment Co.

The Capital Market Authority (CMA) board issued a resolution approving Abdullah Al Othaim Investment Co.’s application for the offering of 30 million shares, representing 30% of its share capital.

The company's prospectus will be published within sufficient time prior to the start of the subscription period.

The CMA's approval on the application shall be valid for six months from the CMA board resolution date. The approval shall be deemed cancelled if the offering and listing of the company's shares are not completed within this period.

According to data compiled by Argaam, Abdullah Al Othaim Investment Co., known commercially as "Al Othaim Malls", is one of the Al Othaim Holding companies, which, in turn, owns a stake in Abdullah Al Othaim Markets Co. listed on the Saudi Exchange (Tadawul)

The company specializes in construction, management, and operation of large shopping malls.

It owns eight shopping malls, namely, Al Othaim Mall Rabwa, Riyadh, Al Othaim Mall Khurais, Riyadh, Al Othaim Mall Buraidah, Al Othaim Mall Unaizah, Al Othaim Mall Dammam, Al Othaim Mall Al Ehsaa, Grand Mall Hail and Arar Mall, according to data available on Argaam.

In September 2021, the company announced its expansion plan, which includes opening 20 new malls worth over SAR 10 billion by 2030.

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