AI Summary
Logo of Dar Al Majed Real Estate Co.
Dar Al Majed Real Estate Co. published its initial public offering (IPO) prospectus to list 90 million shares on the Main Market (TASI).
The offered shares represent 30% of the company’s capital, which stands at SAR 300 million, divided into 300 million shares, with a nominal value of SAR 1 each.
The retail subscription period will run from Aug. 14-18.
According to the prospectus, the book-building process and institutional subscription period will run from July 29 to August 4.
The Capital Market Authority (CMA) approved the offering on March 20, 2025.
The IPO will be limited to two categories of investors:
Tranche A includes participating parties such as investment funds, companies, qualified foreign investors (QFIs), GCC corporate investors, and others through swap agreements. This tranche was allocated 100% of the offering, or 90 million shares. However, the lead manager may reduce the allocation to 72 million shares, or 80% of the total, depending on demand from retail investors.
Tranche B is designated for retail investors, including Saudi nationals, resident non-Saudi individuals, and GCC nationals who have active investment accounts and portfolios with CMA-licensed receiving agents. Up to 18 million shares, or 20% of the offering, may be allocated to this tranche.
Company Profile
Dar Al Majed Real Estate is a closed joint-stock company headquartered in Riyadh. It was established in 2014 and converted from a limited liability company to a closed joint-stock company in 2023. The company operates in real estate activities and has an issued capital of SAR 300 million. Its commercial registration number is 1010417874.
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Company Info |
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Company |
Dar Al Majed Real Estate Co. |
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Business |
Real Estate |
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Capital |
SAR 300 mln |
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No. of Shares |
300 mln |
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Nominal Value |
SAR 1/share |
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IPO Info |
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Offering Size |
90 mln shares |
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Offering Percentage |
30% of total capital |
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Individual Investors Allocation |
18 mln shares (20%) |
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Minimum Subscription (Institutions) |
250,000 shares |
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Maximum Subscription (Institutions) |
14.99 mln shares |
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Minimum Subscription (Individuals) |
10 shares |
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Maximum Subscription (Individuals) |
2.5 mln shares |
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Retail Subscription Period |
Aug. 14–18 |
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Final Allocation Announcement |
Aug. 20 |
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Surplus Refund (if any) |
Aug. 21 |
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Major Shareholders |
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Shareholders |
Pre-IPO |
Post-IPO |
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No. of Shares (mln) |
Ownership Percentage |
No. of Shares (mln) |
Ownership Percentage |
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Dar Al Majed Holding |
173.25 |
57.57% |
121.27 |
40.43% |
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Rafid Al-Haditha Investment Co. |
22.5 |
7.5% |
15.75 |
5.25% |
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AWJ for Development & Investment |
22.5 |
7.5% |
15.75 |
5.25% |
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Other Shareholders |
81 |
27.43% |
57.23 |
19.1% |
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Public (IPO) |
-- |
-- |
90 |
30.0% |
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Total |
300 |
100% |
300 |
100% |
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Additional Info |
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Financial Advisor, Lead Manager, Underwriter, and Bookrunner |
Saudi Fransi Capital |
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Receiving Entities |
Derayah Financial, Alinma Investment, Al Rajhi Capital, SNB Capital, Riyad Capital, ANB Capital, Alistithmar Capital, AlJazira Capital, GIB Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, Saudi Fransi Capital, Yaqeen Capital, Albilad Capital, Musharaka Capital, EFG Hermes KSA, and Awaed Capital. |
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