Saleh Abdulaziz Al Rashed & Sons Company (“SAR”, the “Company”, the “Issuer” or the “Group”), a key Saudi provider of integrated construction materials, mining, and industrial spare-parts solutions in the Kingdom of Saudi Arabia (the “Kingdom”), announces the price range for its Initial Public Offering (“IPO” or the “Offering”) as well as the commencement of the institutional book building period for Participating Parties.

The price range for the Offering has been set between SAR 43 and SAR 45 per share (the “Price Range”), implying a market capitalization of the Company at listing ranging between SAR 800 million and SAR 837 million. The institutional book building subscription period commences today, 13 Sha’ban1447H (corresponding to 1 February 2026G), will close at 3.00PM KSA on 17 Sha’ban 1447H (corresponding to 5 February 2026G). The final Offering price will be determined at the end of the book-building process.

On 30 Rabi’ al-Awwal 1447H (corresponding to 22 September 2025G), the Capital Market Authority (the “CMA”) approved the Company’s application for registering its share capital and the Offering of five million five hundred eighty thousand (5,580,000) shares (“Offer Shares”) representing thirty per cent. (30%) of the Company’s total issued share capital of one hundred eighty-six million Saudi Arabian Riyals (SAR 186,000,000), divided into eighteen million six hundred thousand (18,600,000) ordinary shares, with a fully paid nominal value of ten Saudi Arabian Riyals (SAR 10) per Share. The Company had also received the conditional approval of the Saudi Stock Exchange (Tadawul) for the listing of the Company’s shares dated 28 Thul-Hijjah 1446H (corresponding to 24 June 2025G). All offer shares will be sold by the current shareholders1 (the “Selling Shareholders”), and the Company will not receive any proceeds from the Offering. Net proceeds will be distributed to the Selling Shareholders on a pro-rata basis after deduction of Offering expenses.

For more information about the IPO, please visit https://ipo.salrashed.com.sa/

Highlights of the Offering

  • The Price Range for the Offering has been set between SAR 43 and SAR 45 per share.
  • The total Offering size is expected to be between SAR 240 million and SAR 251 million, implying a market capitalization of the Company at listing will range between SAR 800 million and SAR 837 million.
  • The Offer Shares will be listed and traded on the Main Market of the Saudi Exchange following the completion of the Offering and listing formalities with both the Capital Market Authority and the Saudi Exchange.
  • The Offering will consist of a secondary offering of five million five hundred eighty thousand (5,580,000) ordinary shares, representing thirty per cent. (30%) of the Company’s total issued share capital of one hundred eighty-six million Saudi Arabian Riyals (SAR 186,000,000), divided into eighteen million six hundred thousand (18,600,000) ordinary shares, with a fully paid nominal value of ten Saudi Arabian Riyals (SAR 10) per Share.
  • The Offer Shares will be offered for subscription to Participating Parties and Individual Subscribers (as defined in the Prospectus).
  • Following the completion of the Offering, the current shareholders (the “Current Shareholders”) shall collectively own seventy per cent. (70%) of the Company’s share capital.
  • Lock-up: The Substantial Shareholders and the Shareholder Acting in Concert are subject to a Lock-up Period of six (6) months from the date on which trading of the Offer Shares on the Exchange commences. They may not dispose of any of their Shares during such period. Following the end of the Lock-up Period, the Substantial Shareholders and the Shareholder Acting in Concert may dispose of their Shares without the need to obtain prior approval from the authority.
  • Immediately following the listing, the Company is expected to have a free float of 30% of its share capital.
  • With respect to the Offering:
    • anb capital has been appointed by the company as Sole Financial Advisor, Lead Manager Bookrunner and Underwriter.
    • All CMA licensed receiving entities will act as Receiving Agents for Individual Subscribers, including: anb capital, Alinma Capital, BSF Capital, Al Rajhi Capital, Riyad Capital, Albilad Capital, Aljazira Capital, Alistithmar for Financial Services and Brokerage Company, Derayah Financial, SNB Capital, Yaqeen Capital, Al Khabeer Capital, SAB Invest, Saham Capital, GIB Capital, Musharaka Capital, EFG Hermes KSA, Awaed Alosool Capital, Dinar Investment.
  • The Offering is restricted to the following two groups of investors:
    • Tranche (A) Participating Parties: Comprising the parties entitled to participate in the book-building process specified under the Book-Building issued by the Capital Market Authority. This includes investment fund, GCC and Foreign Corporate Investors. The number of Offer Shares to be provisionally allocated to the Participating Parties is five million five hundred eighty thousand (5,580,000) Offer Shares, representing one hundred per cent. (100%) of the Offer Shares. The final allocation will be made after the end of the Individual Subscriber’s subscription, by ANB Capital Company in coordination with the Company using the discretionary allocation mechanism. As a result, some of the Participating Entities may not be allocated any Offer Shares. The Financial Advisor shall have the right, if there is sufficient demand by Individual Subscribers and in coordination with the Company, to reduce the number of Offer Shares allocated to Participating Entities to three million nine hundred and six thousand (3,906,000) Offer Shares, representing seventy per cent. (70%) of the Offer Shares; and
    • Tranche (B) Individual Subscribers: Comprising Saudi Arabian natural persons (including any Saudi female divorcee or widow with minor children from a marriage to a non-Saudi person who can subscribe for her own benefit or in the names of her minor children, on the condition that she proves that she is a divorcee or widow and the mother of her minor Saudi Arabian children), GCC natural persons, foreign natural persons either residing or not residing in the Kingdom. A subscription for Offer Shares made by a person in the name of his divorced wife shall be deemed invalid and the applicant shall be subject to the sanctions prescribed by law. If a duplicate subscription is made, the second subscription will be considered void and only the first subscription will be accepted. A maximum of one million six hundred and seventy-four thousand (1,674,000) Offer Shares representing thirty per cent. (30%) of the total Offer Shares shall be allocated to Individual Subscribers. If the Individual Subscribers do not subscribe in full to the Offer Shares allocated to them, the Financial Advisor may in coordination with the Company reduce the number of Offer Shares allocated to Individual Subscribers in proportion to the number of Offer Shares subscribed by them.

Enquiries

The Company

Saleh Abdulaziz Al Rashed & Sons

Saud Al Rashed - Chief Executive Officer

Ahmed Magdy Hamdy - Chief Strategy & Performance Officer IR@salrashed.com

Financial Advisor, Lead Manager, Bookrunner, and Underwriter

anb capital

Khalid Alghamdi - Chief Executive Officer Usman Khalid - Head of Investment Banking Investment.Banking@anbcapital.com.sa

Communications Advisor

Brunswick Group

Tariq Al Buhosi, Partner - Head of Riyadh Office Khalid Nouh - Account Director SAR@brunswickgroup.com

Receiving Agents

 

Disclaimer

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The information in this announcement is subject to change. Neither the Company nor the Financial Advisor or their respective affiliates undertake to provide the recipient of this announcement with any additional information, or to update this announcement or to correct any inaccuracies, and the distribution of this announcement shall not be deemed to be any form of commitment on the part of the Company or the Financial Advisor to proceed with the Offering or any transaction or arrangement referred to therein. The contents of this announcement are not to be construed as legal, financial or tax advice. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy, the Offer Shares to any person in the United States, Canada, Japan, Australia, South Africa or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The offer and sale of the Offer Shares has not been and will not be registered under the applicable securities laws of any jurisdiction other than the Kingdom. This announcement is being distributed subject to the provisions of the Rules on the Offer of Securities and Continuing Obligations (the “OSCO Rules”) issued by the CMA, and should not result in any binding undertakings to acquire shares or subscribe in the Offering. This announcement is for information purposes only and under no circumstances shall constitute an offer or invitation, or form the basis for a decision, to invest in any securities of the Company. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors may only subscribe in the Offer Shares on the basis of the CMA approved Arabic language prospectus to be issued and published in due course (the “Prospectus”). The information in this announcement is subject to change. In accordance with Article 51 of the OSCO Rules, copies of the Prospectus will, following publication, be available on the websites of the Company (https://ipo.salrashed.com.sa/), the CMA (www.cma.gov.sa), the Saudi Exchange (www.saudiexchange.sa) and the Financial Advisor (www.anbcapital.com.sa). This announcement is not an offer document for the purposes of the OSCO Rules and should not be construed as such. The CMA and the Saudi Exchange do not take any responsibility for the contents of this announcement, do not make any representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this announcement. This announcement may include statements that are, or may be deemed to be, “forward-looking statements”. These forward- looking statements may be identified by the use of forward-looking terminology, including the terms “aim,” “anticipate,” “believe,” “can,” “consider,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “ought to,” “potential,” “plan,” “projection,” “seek,” “should,” “will,” “would,” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Any forward-looking statements reflect the Company’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, results of operations, financial position, liquidity, prospects, growth or strategies. Many factors could cause the actual results to differ materially from those expressed or implied by any such forward-looking statements or contained in projections, including, among other things, risks specifically related to the Company and its operations, the development of global economic and industry conditions, and the impact of economic, political and social developments in the Kingdom. These factors will be described in more detail in the Prospectus. Forward-looking statements speak only as of the date they are made. Each of the Company, the Financial Advisor and its respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement whether as a result of new information, future developments or otherwise. There is no guarantee that the Offering will occur and you should not base your financial decisions on the Company’s intentions in relation to the Offering at this stage. This announcement does not constitute a recommendation concerning the Offering nor any declaration or undertaking by any means. Acquiring Offer Shares to which this announcement relates may expose an investor to a significant risk of losing the entire amount invested. Persons considering investment should consult an investment advisor or an authorized person specializing in advising on such investments. The Financial Advisor is acting exclusively for the Company and no-one else in connection with the Offering. It will not regard any other person as its client in relation to the Offering and will not be responsible to anyone other than the Company for providing the protections afforded to its clients, nor for providing advice in relation to the Offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein. The contents of this announcement have been prepared by and are the sole responsibility of the Company. Neither the Financial Advisor nor any of its affiliates or respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. In connection with the Offering, the Financial Advisor and any of its affiliates, may take up a portion of the Offer Shares in connection with the Offering as a principal position and in that capacity may retain, purchase, sell, offer to sell for their own accounts such Offer Shares and other securities of the Company or related investments in connection with the Offering or otherwise. Accordingly, references in the Prospectus, once published, to the Company’s shares being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by, the Financial Advisor and any of its affiliates acting in such capacity. In addition, the Financial Advisor and any of its affiliates may enter into financing arrangements (including swaps or contracts for difference) with investors in connection with which the Financial Advisor and any of its affiliates may from time to time, acquire, hold or dispose of securities. The Financial Advisor does not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.

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DISCLAIMER

** THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, DISTRIBUTION, QUOTATION, OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL, ILLEGAL OR WOULDREQUIRE REGISTRATION OF SECURITIES OR OTHER MEASURES **

This announcement is not a prospectus and does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale or subscription of any securities of SAR (as defined below) in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction, including in or into the United States, Canada, Japan, Australia or South Africa. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Any offer to acquire shares pursuant to the proposed Offering (as defined below) will be made pursuant to, and any investor should make his investment decision solely on the basis of the information that is contained in the Arabic language prospectus prepared by SAR and approved on 30 Rabi’ al-Awwal 1447H (corresponding to 22 September 2025G) by the Capital Market Authority of the Kingdom of Saudi Arabia (the “CMA”) that will be published in due course. Copies of the prospectus will be available on the websites of the Company (ipo.salrashed.com.sa), the CMA (www.cma.gov.sa), the Saudi Exchange (www.saudiexchange.sa) and the Financial Advisor (www.anbcapital.com.sa), each as defined below.