FMCO gets CMA nod to float 42M shares

Logo of Facilities Investment Management Co. (FMCO)

The Capital Market Authority (CMA) approved the application of Facilities Investment Management Co. (FMCO) to offer 42 million shares to the public. 

The offering represents 30% of the company’s total share capital of 140 million shares.

The regulator said the prospectus will be published well ahead of the initial public offering (IPO).

The approval remains valid for six months from the date of the CMA's decision and will be deemed void if the offering and listing are not completed within this timeframe.
 
FMCO is a Saudi closed joint-stock company established in 2018, with headquarters in Dammam. It operates in facilities management, providing total integrated facilities management (TIFM) solutions to enhance asset efficiency and ensure operational sustainability.

The company has paid capital of SAR 140 million, divided into 140 million ordinary shares with a nominal value of SAR 1 each.

Its services include cleaning and maintenance, landscaping, waste management, pest control, security services, office management, reception and personal services, and hospitality.

According to its website, Al Yamama Holding Group is the largest shareholder, holding 109.76 million shares (78.4%), followed by Abdullah Saad Al-Muhaish with 27.8 million shares (19.6%), and Hamad Mohammed Hamad Al-Khaldi with 2.8 million shares (2%).