AI Summary
Logo of Saady Holding Co. (CGS)
Consolidated Grünenfelder Saady Holding Co. (CGS) issued its prospectus today, Oct. 29, to sell 30 million shares on the Main Market (TASI).
The shares represent 30% of the company’s SAR 100 million capital, divided into 100 million shares, each at a nominal value of SAR 1. The offering price will be determined after the book-building process.
The initial public offering (IPO) will run from Nov. 26-27, while the book-building process will begin on Nov. 5 and end on Nov. 11.
The Capital Market Authority (CMA) greenlit the offering in June 2025.
The subscription is limited to two categories of investors:
Tranche (A) Participating Parties: This tranche includes the parties entitled to participate in the offering process in accordance with the book-building instructions.
Tranche (B) This tranche includes natural Saudi individuals, including divorced or widowed Saudi women with minor children from a non-Saudi husband, as well as non-Saudi residents and GCC nationals. To be eligible, subscribers must have a bank account with a receiving agent and an active investment portfolio with a financial market institution affiliated with the receiving agent.
The maximum number of shares allocated to Tranche B is six million, representing 20% of the total offered shares.
Founded in 1977, CGS main operations include refrigerated transport, cooling, customized solutions, and after-sales services.
It has three subsidiaries: Coldstores Group of Saudi Arabia, Consolidated Grünenfelder Saady and Al Saadi Refrigeration Air Conditioning W.L.L.
The group plans to establish a second industrial facility in Al Kharj Industrial City, having acquired a new 70,000-square-meter plot. The facility will be equipped with advanced Fourth Industrial Revolution technologies and will host several key existing activities, in addition to new offerings such as ambulance vehicle production and solutions for the defense, oil, and gas sectors.
|
Company Profile |
|
|
Company |
Consolidated Grunenfelder Saady Holding Co. (CGS) |
|
Core Activities |
Managing subsidiaries |
|
Capital |
SAR 100 mln |
|
Number of Shares |
100 mln |
|
Share Par Value |
SAR 1 |
|
IPO Summary |
|
|
Offering Percentage |
30% |
|
No. of Offered shares |
30 mln |
|
Total No. of Offer Shares to Retail Investors |
6 mln (20% of total shares offered) |
|
IPO Minimum Limit (Participating Entities) |
100,000 shares |
|
IPO Minimum Limit (Retail Investors) |
10 shares |
|
IPO Maximum Limit (Participating Parties) |
4.99 mln shares |
|
IPO Maximum Limit (Retail Investors) |
250,000 shares |
|
Offering Period |
Nov. 26-27 |
|
Final Allocation |
Dec. 3, 2025 |
|
Surplus Refund (if any) |
Dec. 4, 2025 |
|
Company Shareholders |
||||
|
Shareholders |
Before IPO |
After IPO |
||
|
Number of Shares (mln) |
Ownership (%) |
Number of Shares (mln) |
Ownership (%) |
|
|
Darat Esmat Bin Abdul-Samad Al Saady Holding Co. |
50.00 |
50% |
35.00 |
35% |
|
GK Grünenfelder International AG |
50.00 |
50% |
35.00 |
35% |
|
Public |
-- |
-- |
30.00 |
30% |
|
Total |
100 |
100% |
100 |
100% |
|
Company Major Shareholders Via Indirect Interest |
||||
|
Shareholders |
Before IPO |
After IPO |
||
|
Number of Shares (mln) |
Ownership (%) |
Number of Shares (mln) |
Ownership (%) |
|
|
Esmat AbdulSamad Naguib Al Saady |
45.00 |
45% |
31.50 |
31.5% |
|
Marcel Albert Grünenfelder |
25.00 |
25% |
17.50 |
17.5% |
|
Albert Peter Grünenfelder |
25.00 |
25% |
17.50 |
17.5% |
|
Buhur Holding Company* |
5.00 |
5% |
3.50 |
3.5% |
|
Additional Information |
|
|
Financial Advisor, Lead Manager & Underwriter |
AlJazira Capital |
|
Bookrunner |
AlJazira Capital, Arqaam Capital |
|
Receiving Agents |
Derayah Financial, AlJazira Capital, BSF Capital, Al Rajhi Capital, SNB Capital, Riyad Capital, Albilad Capital, Alistithmar Capital, Alinma Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, GIB Capital, Musharaka Capital, EFG Hermes and Awaed Capital |
Be the first to comment
Comments Analysis: