First Saudi IPO since Iran war set to raise $55m

First Saudi IPO since Iran war set to raise $55m | AGBI
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May 13, 2026
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Finance
First Saudi IPO since Iran war set to raise $55m
By Pramod Kumar
May 5, 2026, 11:06 AM
Arvin Mogheyse/Unsplash
The share capital of IT solutions company Dar Albalad stands at SAR70 million
Dar Albalad for Business Solutions Company, an IT services provider across the private and public sectors, is set to raise SAR205 million ($55 million) from its listing on the Saudi stock exchange.
The final offer price for the initial public offering was set at SAR9.75 per share, the company said in a statement.
The book-building process for the institutional tranche was oversubscribed 66.6 times. Subscription to the retail tranche is scheduled to commence on May 10 and run through May 14.
In April, Dar Albalad announced the flotation of 21 million shares, representing 30 percent of its share capital on the local bourse. It will be the first listing in the GCC since the start of the Iran war .
Headquartered in Riyadh, Dar Albalads share capital stands at SAR70 million. It operates across the kingdom and the GCC, backed by a workforce of more than 850 employees.
No date has been given for the listing of the shares.
New listings dropped to an eight-year low in the first quarter of this year, with only quarrying and construction materials firm Saleh Abdulaziz Al Rashed & Sons listing on the exchange, having raised $67 million.
Last year, companies raised $3.9 billion from IPOs on the main market, just shy of the $4.1 billion raised in 2024.
Further reading:
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