Tamweel Aloula set to list on Tadawul soon: Chairman

Hani Al Afaleq, Chairman of Tamweel Aloula Co.

Tamweel Aloula Co. seeks to list nearly 30-40% of its share capital on the Saudi Exchange (Tadawul) soon, Al Sharq News reported, citing Chairman Hani Al Afaleq.

The company eyes a distinguished, value-added share offering that will help it maintain its market leadership, Al Afaleq added, indicating that its portfolios grew from SAR 400 million to SAR 4 billion in four-five years.

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Tamweel Aloula is a closed joint stock company, licensed by the Saudi Central Bank (SAMA) to undertake personal, corporate, small, and medium (SMEs) and leasing financing, in addition to providing various financing solutions to retail investors, as well as the small and medium enterprises (SMEs).

Tamweel Aloula reported a net profit before Zakat of more than SAR 142 million, an increase of 58% in 2023.