Al-Othaim Investment Announces Its Intention to List Shares on Saudi Main Market

Al-Othaim Investment Company has revealed its strategic move to list a portion of its shares on the primary market of the Saudi Tadawul. The company recently signed a comprehensive agreement with Saudi Fransi Capital, designating them as the financial advisor, book-building process manager, subscription manager, and underwriter for the public subscription of its shares.

The agreement was formally signed by Al-Othaim Investment’s CEO, Meshaal bin Omairah, and Salam Al-Khunaizi from Saudi French Capital in the presence of the Chairman and members of the Board of Directors.

The decision to go public aligns with Al-Othaim Investment’s expansive strategy and commitment to growth in various sectors, further contributing to the national economy of Saudi Arabia. The agreement is expected to boost the company’s success trajectory, expand growth opportunities, diversify its activities, and fortify its already strong financial position.

Al-Othaim Investment is a prominent player in the Saudi economic landscape, renowned for its diversified business model encompassing a wide range of attractive and stimulating investment activities. These activities include major commercial centres, hospitality, real estate investment, entertainment and cinema, fashion, restaurants, cafes, and more.

The company manages 12 commercial complexes under the brand “Al-Othaim Mall,” and several subsidiary companies such as:

Al Othaim Entertainment Company,

Al Othaim Fashion Company,

Al-Othaim Foods Company,

two cinema companies,

a hospitality company,

and Al-Othaim Real Estate Investment Company.

CEO Meshaal bin Omairah emphasized that the agreement with Saudi Fransi Capital represents a significant milestone for the company, consolidating its economic position. He further highlighted that the strategic dimension provided by this agreement aligns with the company’s growth objectives, enhances its investment capabilities, and ensures its alignment with the economic transformations of Saudi Arabia as outlined in Vision 2030.

Bin Omairah elaborated on the company’s ambitious expansion plans, revealing a portfolio of 23 ongoing and future investment projects distributed across various regions and cities in the Kingdom. Of these, seven projects are currently under implementation, including five expansions of existing commercial complexes at a cost exceeding 12 billion riyals. Additionally, the company has acquired strategic sites in several cities, with implementation scheduled to commence in the coming quarters.

Furthermore, Al-Othaim Investment has entered into strategic partnerships with the public sector, exemplified by the Konoz project with an investment of 7 billion riyals in Riyadh, an agreement with the Eastern Province Municipality for the development of the Khobar waterfront (Othaim Circle), and cooperation with the Jazan region for a waterfront project. These collaborations aim to enhance the quality of life, environment, and tourism infrastructure in line with the Kingdom’s Vision 2030.

The company has also inked agreements with the Tourism Development Fund and various national and global institutions to support its investment endeavours and expansion strategy. These initiatives are geared toward realizing the goals of Vision 2030 and fostering a vibrant and prosperous society.

Al-Othaim Investment’s decision to go public marks a significant step in its journey, supporting its growth ambitions and the economic transformation of Saudi Arabia. With an array of strategic projects and partnerships, the company is poised to play a pivotal role in shaping the future of the Kingdom’s economy.