RIYADH: Saudi Al Awali Real Estate Co. seeks to raise SR500 million ($133 million) by offering 20 percent of its shares on Nomu-Parallel Market, its CEO told Asharq Business.
The Saudi real estate developer is set to float its stake by the first quarter of 2023 as a step toward obtaining the funds that will be needed for the expansion plans the company has in store for the Kingdom, Naif Alturaysi said.
The company has a capitalization of SR200 million, and its shares are expected to be offered at between SR25 and SR32.