Logo of Amlak International
The ban on Amlak International for Real Estate Finance Co.’s founding shareholders from selling shares was lifted today, Jan. 12, 2021, six months after the stock began trading on the Saudi Stock Exchange (Tadawul) on July 13, 2020.
Under the Capital Market Authority (CMA) regulations, a company’s founding shareholders, as well as major shareholders who own 5% minimum, cannot sell their shares for six months after the beginning of trading on Tadawul.
After the end of the lockup period, those shareholders do not need the market regulator’s approval to dispose of their shares.
Saudi Investment Bank (SAIB) is one of Amlak’s major shareholders with a 22.41% stake, followed by Amlak Finance (18.35%).
|
Major shareholders of Amlak International* |
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|
Shareholders |
Before Offering |
After Offering |
||
|
Number of shares (mln) |
Ownership Percentage |
Number of shares (mln) |
Ownership Percentage |
|
|
SAIB |
29.00 |
32.01% |
20.30 |
22.41% |
|
Amlak Finance |
23.75 |
26.21% |
16.63 |
18.35% |
|
Al Tawfeek Development House Holding |
13.00 |
14.35% |
9.10 |
10.04% |
*Major shareholders are those who own 5% minimum of the company's shares
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