SAMACO Motors set to go public in Saudi market in 2025

12/11/2024 Argaam
Logo ofSAMACOMotors

Logo of SAMACO Motors

SAMACO Motors, the exclusive dealer of Audi, Bentley, Porsche, Lamborghini, and Volkswagen in Saudi Arabia, revealed a plan to go public on the Saudi market next year, Group CEO Mohammed Sharbatly, told Al-Eqtisadiah newspaper.

 

SAMACO will be the first automaker that plans to go public.

 

On the sidelines of the launch of Porsche’s new electric vehicles in Riyadh today, Sharbatly confirmed that the company has signed an agreement with a Saudi investment bank on the initial public offering (IPO). He added that all subsidiaries under the holding group will be offered on the stock market.

 

For More IPOs

 

The group holds a 50% market share of the luxury European car business in Saudi Arabia and disclosed imminent plans to add two more luxury brands to its exclusive portfolio, the CEO added.

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