Saudi Amlak International Real Estate Finance Company has announced plans for an initial public offering on the Saudi Stock Exchange (Tadawul).
Amlak said in a statement that the offer would include 27,180 thousand ordinary shares, representing 30 percent of the company’s capital. The proceeds of the initial public offering will be paid to the sellers’ shareholders on a pro-rata basis.
The Capital Market Authority (CMA) issued an approval for the offering on December 25. Amlak has appointed NCB Capital as its sold financial advisor, book writer, underwriter, and lead manager to the offer shares.
The company plays a leading role in the booming non-bank real estate finance industry in the Kingdom of Saudi Arabia and has positioned itself to take full advantage of the opportunities presented by the market today.
Amlak International was established in 2007, and it is a Saudi non-bank real estate finance company licensed by the Saudi Arabian Monetary Agency in 2013 to provide real estate financing solutions compatible with Islamic law.