Mutlaq al -Ghuwairi, Saudi Arabia, is looking for a preliminary proposal in Riyadh

The Saudi company “Mutlaq Al -Ghuwairi Contracking” is considering implementing a preliminary public offering in Riyadh, according to people familiar with a move that can increase the Gulf of proposals in the Kingdom, which has collected more than 10 billion dollars over the past two years. The company, known as “MGC”, is looking for an agreement that can estimate between 12 and 15 billion Riyale ($ 3.2 to $ 4 billion), according to people who refused to reveal their identity to confidentiality of information. Melis & Co plays the financial advisor for the potential agreement, while Al -Rajhi Financial is the arrangement of the process, according to some people. In addition, additional banks mentioned that ‘Mutlaq Al -Ghuwairi for contracting’ wants to involve more banks in the offer, which can start early next year. Discussions are still in their starting phases, and no final decisions have been made about the timing or size of the offer, and the company can ultimately choose not to move forward. The representatives of “Mutlaq al -Ghuwairi contracting” did not respond to the requests for comment, while both “Al -Rajhi Financial” and “Michels” remembered the comment. Local media, such as ‘numbers’, was the first to reveal the participation of the ‘Al -Rajhi Financial’ in the upcoming presentation process. The company’s activity and projects work “Mutlaq al -Ghuwairi for contracting” in the development of water and road infrastructure, and the list of clients, according to the website, has the future city “Neum” and a number of Saudi Government Ministeries. Like other contracting companies, ‘Mutlaq Al -Ghuwairi Contracking’ will benefit from the national tendency to expand and distribute networks in Saudi Arabia. Saudi Arabia is the most active market in the Middle East in terms of public proposals this year, as companies have raised about $ 3.5 billion. However, the performance was varying as investors carefully monitor assessments in an environment characterized by low oil prices.