FNRCO plans to float shares in Saudi market in early 2026

Ali Al Mahan Chairman of The First National Co. (FNRCO)

The First National Co. (FNRCO) plans to sell shares to the public in the Saudi market in early 2026, Al-Eqtisadiah newspaper reported, citing Chairman Ali Al Mahan.

He added that FNRCO provides domestic and foreign workforce recruitment, HR, workforce management, and contracting services. In addition, it offers training, certification, and inspection services, as well as Prometric evaluation and testing. 

The company attracted specialized talents and workforce for the Kingdom’s major projects, such as NEOM, Riyadh Metro, and Saudia Airlines, as well as many local and international companies, bringing in global experts from 85 countries to work on both government and private projects.

FNRCO seeks to forge alliances with universities in Saudi Arabia to help employ graduate students in the current projects the Kingdom is undertaking, the Chairman said. He noted that the company plans to employ 10,000 staff members over the next five years, with Saudis making up the majority of this workforce.

According to Argaam data, FNRCO was established in 2001 as a limited liability company and was later transformed in 2016 into a closed joint-stock company with a capital of SAR 100 million, specializing in providing administrative services, HR solutions, project management, and achieving integration between these services.