Saudi Arabia’s leading non-bank real estate finance company, Amlak International for Real Estate Finance, is planning to launch an IPO on the Saudi Stock Exchange (Tadawul).

Amlak International provides Sharia-compliant real estate financing solutions to corporates, high-net-worth-individuals and individual clients in the Gulf kingdom.

The IPO will comprise 27,180,000 Ordinary Shares representing 30 percent of the company’s share capital. The net proceeds of the offering would be paid to the selling shareholders on a pro-rata basis.

The Capital Market Authority (CMA) approved the application for the IPO on 25 December 2019.

Amlak International has appointed NCB Capital Company as Sole Financial Advisor, Sole Bookrunner, Sole Underwriter and Lead Manager in relation to the Offer Shares.

“The announcement of our intention to list on Tadawul is a historic moment for the company, with the forthcoming IPO a testament to our commitment to future growth. Amlak International plays a leading role in Saudi Arabia’s burgeoning non-bank real estate financing industry and has positioned itself to take full advantage of the opportunities that today’s market presents," said Abdullah Al Howaish, Chairman of Amlak International.

(Writing by Seban Scaria, editing by Anoop Menon)

seban.scaria@refinitiv.com

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