Sinad Holding subscribes as key investor to 6.7M of Al Majdiah shares
Logo of Sinad Holding Co.
Sinad Holding Co. committed to subscribe as a cornerstone investor for approximately 6.67 million shares in Dar Al Majed Real Estate Co. (Al Majdiah) initial public offering (IPO), representing around 2.22% of the company’s capital.
Al Majdiah stated in its supplementary prospectus that both the company and the selling shareholders have agreed to allocate these shares to Sanad Holding as a cornerstone investor in the offering.
Al Majdiah intends to float 90 million shares on TASI, representing 30% of its capital. The company’s capital stands at SAR 300 million, divided into 300 million shares at a nominal value of SAR 1 apiece, according to Argaam data.
The retail subscription period will take place during Aug. 14-18, 2025. As many as 18 million shares (20% of total offered shares) were allocated to individual investors. Al Majdiah set the price range of its IPO between SAR 13.5-14 per share.