AI Summary
Logo of Dar Al Majed Real Estate Co. (Al Majdiah)
Dar Al Majed Real Estate Co. (Al Majdiah) started trading on the Main Market (TASI) today, Sept. 10, under the symbol 4326 and ISIN Code SA16C0723J17, at SAR 14 per share.
The stock trades in the first three days with daily and static price fluctuation limits of ±30% and ±10%, respectively. Starting the fourth trading day onwards, the daily price fluctuation limits will revert to ±10%, while the static price fluctuation limits will no longer apply.
Al Majdiah is the 11th listing on TASI in 2025 after Almoosa Health Co. on Jan. 7, Nice One Beauty Digital Marketing Co. on Jan. 8, and Derayah Financial Co. on March 10. This is in addition to Arabian Company for Agricultural & Industrial Investments (Entaj) on March 17, Umm Al Qura for Development and Construction Co. (UQDC) on March 24, United Carton Industries Co. (UCIC) on May 27, flynas on June 18, Specialized Medical Co. (SMC) on June 25. Sport Clubs Co. floated its shares in July and Marketing Home Group for Trading Co. (MHG) on Sept. 2.
In 2024, as many as 13 companies listed on TASI, in addition to Alistithmar AREIC Diversified REIT Fund.
Al Majdiah will bring the total number of Tadawul-listed companies to 242, excluding 19 REITs.
The company offered 90 million shares, representing 30% of its SAR 300 million capital, divided into 300 million shares at a par value of SAR 1 each.
The retail IPO was 278% oversubscribed, while the institutional IPO was 107-times covered.
A minimum of 10 shares was allocated to each retail investor, while rump shares will be allocated pro rata, at an average allocation factor of 31.8%.
Company Profile
Incepted in 2014 and based in Riyadh, Al Majdia converted from a limited liability firm to a closed joint-stock company in 2023. It operates in real estate activities.
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Company Info |
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Company |
Dar Al Majed Real Estate Co. (Al Majdiah) |
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Core activities |
Real estate activities |
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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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Major Shareholders |
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Shareholders |
Pre-IPO |
Post-IPO |
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No. of Shares (mln) |
Ownership Stake |
No. of Shares (mln) |
Ownership Stake |
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Dar Al Majed Holding |
173.25 |
57.57% |
121.27 |
40.43% |
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Rufaid Modern Investment Co. |
22.5 |
7.5% |
15.75 |
5.25% |
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AWJ Real Estate Development and 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 |
-- |
-- |
90 |
30.0% |
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Total |
300 |
100% |
300 |
100% |
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