GIB Capital, the financial advisor, bookrunner, and underwriter for the initial public offering of Umm Al-Qura Development and Construction Company in the offering of 130,786,142 shares

GIB Capital, as the Financial Advisor, Bookrunner and Underwriter, announces the intention of Umm Al-Qura Development and Construction Company to offer (130,786,142) new ordinary shares though a capital increase (representing 9.09% of the Company’s share capital post the capital increase) for an initial public offering and to list its shares on the Main Market of the Saudi Exchange. 
The Company obtained the approval of the Saudi Stock Exchange on its request to list its shares on the main market on 12/08/2024 and obtained the approval of the Capital Market Authority on 12/24/2024. The final offering price for all subscribers will be determined after the end of the book building period.
The Company was established in 2012G pursuant to the high order to undertake the development of King Abdulaziz Road in Makkah which originally contained 6 unplanned settlements neighbourhoods; the project site area is known as MASAR Destination. 
MASAR is one of the largest redevelopment projects in the region, located directly on Makkah's western border. It stretches for more than 3.5km from the 3rd Ring Road intersection with Prince Mohammed bin Salman bin Abdulaziz Road (formerly known as Umm Alqura Road) to 550 meters away from Al Haram’s King Fahad Gate. 

To view the Company's prospectus, (click here)
This announcement does not constitute a recommendation to subscribe to the company, as investors must review the prospectus to assess the viability of the investment. 
GIB Capital, established in 2008, provides a range of financial services, including equity capital markets advisory, mergers and acquisitions, debt capital markets, advisory, asset management and brokerage services. It is one of the prominent entities in providing financial advisory services to GREs, institutions, family businesses and investors in the Saudi market.