"Umm al -qura" gets the green light to put 9% of her shares in Saudi Arabia

The Saudi Capital Market Authority today agreed to the request of “Umm Al -kura development and reconstruction business to register and present 130786142 shares for public subscription shares, representing 9.09% of the company’s total shares. Investment Investment in Preparing on the Public in Reiyadh, according to the public subscription prescription in Riyad, according to the Public Subscription in Public Subscription in Reiya. published at the time. The company has chosen ‘Al -Bilad Capital’ and ‘Gib Capital’ to work on public subscription, while Lazard provides consulting services. Support of Vision 2030 projects, “Umm al -qura” enterprise, develops the “PATH” project, which is one of the real estate development projects in the kingdom that spans an area of ​​about 1.2 million square meters, and is located in the heart of Makkah al -Mukarramah and is aimed at providing an environment that has a combination of a combination of a combination of residency, Cultural and recreational services. The project contributes to achieving one of the targets of the Kingdom’s 2030 vision by increasing the capacity to receive 30 million visitors to Makkah by 2030, according to the company’s website. Upon Complete Completion, the “Path of the Path” Project will include 117 Hotel Towers with a total capacity of 40 thousand Rooms, in addition to 82 Residential Towers, 3 Commercial Buildings that includes 862 Offices, and also includes a Healthy Building 254 Clinics, 1395 Commercial Stores, and pedestrians with a length of 3.5 km, as well as the largest train station in the middle east at a depth of 40 meters, and the largest center marketing in Mecca, “mass mall”. “Umm al -qura” currently includes private sector shareholders and state -owned sovereign funds, including the Public Investment Fund, the Ministry of Finance, the Public Pension Agency, the General Organization for Social Insurance and the General Endowment Authority. The approval of the government is valid for a period of six months from the date of the decision, and it is canceled in the event that it is not completed and is included in the company’s shares during this period. An expected proposal proposals in Saudi Arabia 2025 The subscription of “Umm al -qura”, expects amid the revival of public proposals in the kingdom. A few hours ago, the authorities also agreed to the request of the “Ijada Systems” business associated with “Al -Rajhi Bank”, to offer 45% of its public subscription shares. Last week, 12 million shares were approved, representing 30% of the capital of ‘United Cartoon Industries’ in the Saudi Market. The company also joins a long series of initial public subscriptions expected for 2025, including the “Tabi” business, which specializes in “purchase and payment later” services, which is considering including its shares in the market, according to the “Bloomberg” quoted from informed sources. The Public Investment Fund is studying the launch of stakes of the company “Nobco”, the largest Saudi business in the pharmaceutical sector, and the “Saudi International Ports” business next year, according to “Bloomberg”. And this year, there were 16 primary public subscriptions in the main market, which, according to the “East” accounts, raised more than $ 4.1 billion.