Abdullah Al Othaim Investments Intends to offer shares for IPO, listing on Main Market

GIB Capital acting as Financial Advisor, Lead Manager, Bookrunner and Lead Underwriter on the potential initial public offering of Abdullah Al Othaim Investment Company (“Al Othaim” or the “Company”) announced on Tuesday the Company’s intention to proceed with the initial public offering and listing of its ordinary shares (“IPO”) on the Main Market of the Saudi Exchange, where offering is expected to comprise a sale of existing shares and result in a free float of 30% of the Company’s share capital.

The Saudi Exchange approved the Company’s application for the listing of its shares on the Main Market on 5 December 2021 and the Capital Market Authority (“CMA”) approved the Company’s application for the initial public offering of 30,000,000 ordinary shares (representing 30% of the Company’s share capital) on 16 March 2022. The price at which all subscribers in the offering will purchase the shares will be determined after the book-building period.