Diriyah plans IPO on Saudi market after 2030: CEO

Jerry Inzerillo, CEO of Diriyah Co.

Diriyah Co. plans to pursue an initial public offering (IPO) on the Saudi Exchange (Tadawul) after 2030, CEO Jerry Inzerillo said, adding that it expects to attract billions of dollars in private foreign investment, Reuters reported.

The company’s main project in Diriyah is progressing on schedule and within budget, the CEO said, noting that it is likely to be ready by 2030.

Diriyah Co. may expand as a global developer of cultural heritage sites and could later develop six additional heritage sites across Saudi Arabia, Inzerillo said.

The company is in talks with Syrian officials regarding a potential role in rebuilding Syrian cultural heritage sites.

According to data from Argaam, Inzerillo had stated in June 2023 that discussions were underway regarding a possible IPO for Diriyah Co.