Tell the world that Tadawul is coming home! Saudi Home Loans Co will go public on the Tadawul exchange and will begin trading this Wednesday.
Saudi Home Loans, a Shariah-compliant real estate firm that has been in operation since 2007, is 40% owned by Arab National Bank, while Dar Al Arkan holds 15% of the share capital.
Prior to its initial public offering (IPO) on the Saudi Stock Exchange, Saudi Home Loans raised $160m from participating firms last month. The offering was priced at the top end of an indicative range, equal to SAR 20 per share because it was 50 times oversubscribed.
Why it matters
Investor interest in Saudi initial public offerings (IPOs) has been significantly increasing in 2022, with Tadawul being one of the busiest stock exchanges in the region. Saudi Home Loans is the seventh company to be listed on the main market this year, and it is the latest in the Kingdom's IPO wave aimed at increasing liquidity and scaling its capital markets.
