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Consolidated Grünenfelder Saady Holding Company (CGS), which provides refrigeration and cold chain solutions, plans to launch an IPO of 30% of its share capital.
The shares will be listed on the Main Market of the Saudi Exchange (Tadawul) following the IPO.
A total of 30 million shares will be offered, with 20% allocated to individual investors.
The final offer price will be determined at the end of the book-building process, scheduled between 5 and 11 November 2025.
CGS has appointed AlJazira Capital as financial advisor, lead manager, bookrunner, and underwriter, while Arqaam Capital will act as joint bookrunner.
The company is investing in upgrading its manufacturing capabilities to meet rising market demand and plans to establish a new manufacturing facility in Al Kharj Industrial City.
In the first half of 2025, Saudi Arabian companies collectively raised $2.8 billion through IPOs, according to Markaz. The biggest of the offerings was Flynas, which raised $1.1 billion.
(Writing by Brinda Darasha; editing by Bindu Rai)
