Logo of Al Saif Gallery
Al-Saif Stores for Development & Investment Co. (Alsaif Gallery) obtained the Capital Market Authority’s (CMA) approval to float 10.5 million shares on the Saudi Exchange (Tadawul), the market regulator said on its website.
The planned-to-be-offered stake represents 30% of the company’s share capital reaching 35 million shares.
The company's prospectus will be published within sufficient time prior to the IPO period.
The CMA's approval will be valid for six months from the CMA resolution date. It will be deemed cancelled if the offering and listing of the company's shares are not completed within this period.
Al Saif Gallery opened its first store in 2006. It operates in the field of kitchen gadgets, electrical appliances and household products.
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