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Saudi Arabia’s Almasar Alshamil Education is looking to raise 599 million riyals ($160 million) from its IPO, with its final price set at top of the range of SAR 19.50 per unit.
The company, a subsidiary of the Dubai-listed Amanat Holdings, is a provider of specialised education across the GCC. The IPO will see Almasar Alshamil Education float 30,720,400 ordinary shares on the Saudi Main Market, representing 30% of its share capital.
The market capitalisation implied at listing falls just short of SAR 2 billion.
The institutional bookbuilding process resulted in an orderbook of approximately SAR 61.6 billion, with an oversubscription rate of 102.9 times.
The offering period for individual subscribers will be open for three days, commencing on 18 November 2025 until 20 November 2025
Final allocations will be announced by November 26 with refunds of excess subscriptions by December 2.
SNB Capital has been appointed as financial advisor, lead manager, and underwriter on the offering. SNB Capital and EFG Hermes Saudi Arabia are also joint bookrunners for the institutional tranche.
The net proceeds of the offering will be paid directly to Amanat Special Education and Care Holdings Ltd. as the selling shareholder.
(Writing by Bindu Rai, editing by Seban Scaria)
