Saleh Al Rashed debuts on TASI today at SAR 45/shr

Logo of Saleh Abdulaziz Al Rashed & Sons Co.

Saleh Abdulaziz Al Rashed & Sons Co. began trading on the Main Market (TASI) today, March 11, under the symbol 1324 and ISIN Code SA16H0MGKM14, at SAR 45 per share.

The stock will trade in the first three days with daily and static price fluctuation limits of ±30% and ±10%, respectively. From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10%, while the static price fluctuation limits will no longer apply.

 This is the first IPO on TASI in 2026.

In 2025, 15 companies were listed on Tadawul.

Following Saleh A. Al Rashed listing, the number of companies listed on TASI has reached 250, along with 19 real estate traded funds (REITs).

The company offered 5.58 million shares on TASI. The offered shares represent 30% of its SAR 186 million capital, divided into 18.6 million shares at a par value of SAR 10 each.

The retail IPO was 161% covered, based on the 1.67 million shares allocated to individual investors, representing 30% of the offering. 

Meanwhile, the institutional IPO was 67.7 covered. 

Company Background

Saleh Abdulaziz Al Rashed & Sons Co. was established in 1975 as a sole proprietorship in Riyadh under the name Saleh Abdulaziz Al-Rashed Trading Establishment. In 2010, it converted into a limited liability company and changed its name the following year to its current name. In 2023, it transformed into a closed joint-stock company.

The company’s activities include quarry operations and the production of construction materials (aggregate and asphalt), the supply of crushers, spare parts and heavy machinery, as well as the provision of integrated infrastructure solutions.

The firm operates through two main segments: the sales of construction materials segment, which includes aggregate and asphalt, and the sales of spare parts segment, which includes crushers, heavy machinery, internal installation, assembly and technical support.