Al Ramz Real Estate Company will proceed with its initial public offering (IPO) and listing of its shares on the Saudi Stock Exchange (Tadawul) main market.

The company is looking to sell more than 12.8 million shares, representing a 30% stake post-capital increase.

Al Ramz intends to use 37% of the offering proceeds for project development, while 36% will be used to fund investments in new real estate funds and 23% for general purposes, it said in its prospectus.

SNB Capital is acting as the lead manager, financial advisor, bookrunner and underwriter for the IPO.

Al Ramz obtained the approval for the listing and the IPO from Tadawul and the Capital Market Authority last March and June 2025, respectively.

The price for the offering will be determined after the book-building process.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com