Arabian Dyar scraps plan for TASI listing

Logo of Arabian Dyar Real Estate Development Co.

Arabian Dyar Real Estate Development Co. postponed its planned initial public offering (IPO) on Tadawul’s Main Market (TASI), Bloomberg reported, citing sources familiar with the matter.

On Dec. 31, 2025, the Capital Market Authority (CMA) approved the company’s application to list and offer 97.5 million shares on TASI, which represented 30% of the company's 325 million share capital, according to Argaam’s data.

The market regulator stated that the approval would be valid for six months from its resolution date. It shall be deemed cancelled if the offering and listing of the company's shares were not completed within this period.

Earlier, the company had also obtained the CMA's approval in June 2023 to offer 2.25 million shares on the Nomu-Parallel Market, but it did not proceed with the offering at that time.

This followed a similar decision by Mutlaq Al-Ghowairi Contracting Co. (MGC) on June 9 to not proceed with its planned TASI IPO after consulting with its financial advisors.