Almasar Alshamil plans to proceed with TASI IPO

SNB Capital, the lead manager, financial advisor, and underwriter, together with EFG Hermes Saudi Arabia, in their capacity as joint bookrunners on the potential initial public offering (IPO) of Almasar Alshamil Education Co., said the company plans to proceed with its IPO and listing of its shares on the Main Market (TASI).

The IPO will be through the sale of existing shares by the selling shareholder, representing 30% of the company’s capital.

The company obtained on March 10 the Saudi Exchange's (Tadawul) approval to list its shares on TASI. It also obtained the green light of the Capital Market Authority's (CMA) to float 30.72 million ordinary shares, or 30% of capital, on Sept. 29.

The offering price will be determined after the book-building process