• Riyadh-based pharmaceutical firm Avalon Pharma is set to go public, intending to list 30% of its shares on the Tadawul stock exchange as part of its global expansion strategy. The company plans to sell 6 million shares to participating parties and individual investors, with the final offer price determined between January 14 and 18. If there's sufficient demand from individual investors, the shares initially allocated to participating parties may be reduced to 5.4 million. Avalon Pharma, founded in 1998, has evolved into a key player in the Saudi pharmaceutical market, manufacturing consumer health products, beauty brands, and generic prescription medicines.

• Ahmed Tabbaa, Founder and Chairman of Avalon Pharma, emphasized the company's success story within the kingdom and its ability to capture future growth by listing on the Saudi Exchange. The move aims to provide a broader range of stakeholders with an opportunity to share in the company's success. This IPO follows a series of successful listings on Tadawul, including MBC Group, which raised 831 million Saudi riyals ($222 million) in its recent IPO. The pharmaceutical sector in Saudi Arabia is experiencing steady growth, driven by an increase in chronic diseases, government investments in healthcare, and a focus on specialized drugs.