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Saudi Arabia’s Marketing Home Group (MHG), which operates in construction and building solutions, will float 4.8 million shares, representing 30% of its share capital.
The company has secured the Capital Market Authority’s (CMA) approval to float its shares on Tadawul.
Saudi has been solidifying its capital markets, with the first quarter of the year witnessing four IPOs on its main market, including Al Moosa Health and Nice One in January, followed by Derayah Financial and Entaj, which started trading yesterday. Construction firm Umm Al Qura’s IPO is also expected later this month.
(Writing by Bindu Rai, editing by Seban Scaria)
