Saudi Leather Industries Company (SLIC) has appointed Riyadh-based Yaqeen Capital to lead manage its initial public offering (IPO). 

Following the IPO, SLIC's shares will be listed on the Saudi stock exchange (Tadawul), Yaqeen Capital said on Tuesday.

Upon the completion of the IPO and the listing process, the total revenues collected from the process will exceed 5% of the total revenues of Yaqeen Capital, compared to the last audited annual financial statements for the year 2024 AD.

In January, industry experts said strong investor optimism and a strengthening of regulatory frameworks will steadily boost the IPO momentum in Saudi Arabia in 2025.  

A 2025 outlook by Saudi brokerage Al Rajhi Capital estimates the kingdom could witness between 50 to 60 IPOs over the next two years, with seven already approved or closed, while 97 IPOs remain under review.

(Editing by Brinda Darasha; brinda.darasha@lseg.com)