Shareholder of Ades Holdings, a oil and drilling company supported by Saudi Arabia’s public investment fund, is set to offer 30% of its shares as part of an initial public offering (IPO). The offering will consist of 338.7 million shares, with 237.1 million new shares issued through a capital increase. The IPO, set to be listed on the Tadawul stock exchange, aims to raise approximately $1 billion. This move is part of a trend of increasing IPO activity within the Gulf and broader MENA region.
- Ades Holdings set to offer 30% of Shares as an IPO