Amlak International to Float 30% of its Shares on Tadawul in Initial Public Offering 

Saudi Arabia's Shariah-based, real estate financing firm Amlak International (Amlak), has stated that it will float 30% of its shares on the Saudi Stock Exchange (Tadawul), marking the first initial public offering (IPO) on Tadawul since the emergence of the COVID-19 crisis.

The offering will comprise 27,180,000 of ordinary shares whilst the net proceeds from the offering will be used towards making payments to the selling shareholders of Amlak on a pro-rata basis. Meanwhile, Amlak stated that the final offer price would be announced on the 30th of June 2020 following a book-building process starting on the 22nd of June 2020.

Saudi Arabia’s NCB Capital will be the only financia...