- Saudi Arabian Mills’ $271 million IPO Covered within an Hour
- Konvi launching fractional ownership in UAE real estate from $280
- Webook prepares for a billion-dollar IPO on the Saudi exchange after significant achievements.
?? ?? Saudi Arabian Mills’ $271 Million IPO Fully Covered Within an Hour
?? What is it about?
- Arabian Mills for Food Products Co. is launching an IPO in Saudi Arabia to raise up to $271 million by selling a 30% stake (15.4 million shares) on the local stock exchange.
- The IPO was fully covered within an hour of opening, with institutional investors participating at a price range of 62 to 66 riyals ($16.50 to $17.60) per share.
?? Why it matters?
- The rapid coverage of the IPO highlights strong investor demand in Saudi Arabia’s equity markets.
- This activity suggests that Saudi Arabia’s IPO market remains vibrant and could sustain high levels of activity through the end of the year.
- It follows the recent successful IPO of Saudi perfume maker Al Majed for Oud Co. and other high-profile offerings like Saudi Aramco’s $12 billion secondary offering and Dr. Soliman Abdul Kader Fakeeh Hospital’s $763 million IPO.
?? What’s next?
- The institutional offer period will run from September 1 to September 5, with final pricing expected on September 11.
- The retail subscription period is scheduled for September 18 to September 19.
- Arabian Mills has appointed HSBC Saudi Arabia as the lead financial adviser and underwriter, with other banks acting as receiving agents.
??? Konvi Expands into UAE Real Estate, Offers Property Stakes Starting at $280
?? What is it about?
- Konvi is launching its fractional ownership platform in the UAE, allowing investors to own a share of luxury properties starting at $280.
?? Why it matters?
- The UAE’s luxury real estate market is thriving, with rising property values and rents, making it a prime investment destination. Fractional ownership lowers the barrier to entry for investors, providing access to high-value assets.
?? What’s next?
- Konvi will offer fractional ownership in UAE properties, partnering with industry experts to ensure asset quality and returns. Investors can now explore luxury real estate opportunities through Konvi’s platform.
?? Webook Poised to Become a Billion-Dollar Company with Upcoming Saudi Listing
?? What is it about?
- Turki Al-Sheikh, Chairman of the General Entertainment Authority (GEA), has announced plans to list Webook on the Saudi exchange. The platform is expected to reach a billion-dollar valuation.
?? Why it matters?
- Webook has achieved significant milestones, including selling over 11 million tickets and generating more than SAR 1 billion in sales within a year. It became the most downloaded app during the Riyadh season, reflecting its strong market presence and user demand.
?? What’s next?
- Webook is preparing for its listing on the Saudi stock exchange, potentially increasing its market valuation and expanding its influence in the entertainment sector.
In other news…
- Dubai’s Invictus Investment Enhances Footprint in Africa with Latest Acquisition.
- ACWA Power Secures $2.6 Billion for Three Major Solar Projects in Saudi.
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6 个月While it is impressive that the IPO was fully covered within an hour, it is important to consider the ethical implications of investing in a country with a poor human rights record and limited freedoms for its citizens.
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