Riyadh, Saudi Arabia – Consolidated Grünenfelder Saady Holding Company (“CGS” or the “Company”), a market leader in cold chain technology providing high quality and innovative cold chain solutions, with a particular focus on advanced refrigeration, refrigerated transport solutions, specialized mobile units and design/manufacturing of complex units in the Kingdom of Saudi Arabia, today announces the successful completion of its Initial Public Offering (“IPO” or the “Offering”) of shares following the conclusion of the retail offering.

Following the completion of the institutional book building process in early November 2025G, the retail offering took place on 26 and 27 November 2025. The retail offering saw 78,824 individual investors subscribe for 4,254,300 shares at the IPO price of SAR 10 per share, which represented 14.2% of the Offer Shares.

The IPO will enable CGS to cement its position as market leader in the refrigeration sector in the Kingdom and continue to deliver growth across its other segments. 

Trading of the Company’s shares on the Main Market of the Saudi Exchange is expected to start after completion of all of the relevant legal requirements and procedures. The trading commencement date of the Shares will be announced on the Saudi Exchange website

The IPO of CGS comprised an offer of 30,000,000 ordinary shares, representing 30% of the Company’s issued share capital by way of a sale by the Selling Shareholders.

With respect to the Offering, the Company has appointed AlJazira Capital to act as Financial Advisor, Lead Manager, Bookrunner and Underwriter, and Arqaam Capital as Joint Bookrunner. 

Commenting on the IPO, Peter Faerber, Group CEO of CGS said:

“With almost 50 years of innovation, CGS has become a leader in refrigeration and cold chain solutions vital to Saudi Arabia’s progress. As the offering period successfully concludes, with strong demand from institutional investors, and we begin preparations to list in the coming weeks, we remain focused on delivering exceptional products and services to our 3000+ customers and expanding our role in supporting Saudi Vision 2030. We welcome our new shareholders who join us at an exciting time as we build long-term value and empower national growth. We look forward to providing further updates as we embark on this next chapter."