Bandar Al-Buhayri, CEO ofAbdullah Al Othaim Investment Co. (AOIC)
Abdullah Al Othaim Investment Co. (AOIC) is updating its initial public offering (IPO) file, which was submitted by the financial advisor, BSF Capital, at the end of 2024, CEO Bandar Al-Buhayri told Asharq TV. 
He expects the Capital Market Authority (CMA) and the Saudi Exchange (Tadawul) to approve the IPO this year, with the share sale to be launched within six months from the approval date.
The majority of the IPO proceeds will be used to finance the company’s projects, the CEO said, adding that the SAR 3.1 billion-credit facilities recently secured from the Saudi National Bank (SNB) aim to fund the company’s expansion projects.
Al-Buhayri noted that the company has a strategic plan to expand its various activities, with 17 multi-use projects currently underway. These projects include the construction of residential units, malls, and hotels, while the remaining will cover the other activities of the company.
He further clarified that AOIC is proceeding with the exploration and attraction of strong, distinctive, and successful brands. In March 2022, the CMA approved the company’s application for the offering of 30 million shares, or 30% of its capital reaching SAR 1 billion, divided into 100 million shares, according to Argaam data. In May 2022, the company issued the IPO prospectus.
However, the company decided in June 2022 to cancel the public offering to select a more suitable future opportunity to offer and list its shares. In October 2023, the company signed an agreement with BSF Capital to act as the financial advisor, lead manager, bookrunner, and underwriter on its potential offering. In September 2022, Abdullah Al Othaim Markets Co.’s general assembly approved to sell the company’s 13.65 million shares in AOIC, for SAR 846.5 million.
Bandar Al-Buhayri, CEO ofAbdullah Al Othaim Investment Co. (AOIC)
Abdullah Al Othaim Investment Co. (AOIC) is updating its initial public offering (IPO) file, which was submitted by the financial advisor, BSF Capital, at the end of 2024, CEO Bandar Al-Buhayri told Asharq TV.
He expects the Capital Market Authority (CMA) and the Saudi Exchange (Tadawul) to approve the IPO this year, with the share sale to be launched within six months from the approval date.
The majority of the IPO proceeds will be used to finance the company’s projects, the CEO said, adding that the SAR 3.1 billion-credit facilities recently secured from the Saudi National Bank (SNB) aim to fund the company’s expansion projects.
Al-Buhayri noted that the company has a strategic plan to expand its various activities, with 17 multi-use projects currently underway. These projects include the construction of residential units, malls, and hotels, while the remaining will cover the other activities of the company.
He further clarified that AOIC is proceeding with the exploration and attraction of strong, distinctive, and successful brands. In March 2022, the CMA approved the company’s application for the offering of 30 million shares, or 30% of its capital reaching SAR 1 billion, divided into 100 million shares, according to Argaam data. In May 2022, the company issued the IPO prospectus.
However, the company decided in June 2022 to cancel the public offering to select a more suitable future opportunity to offer and list its shares. In October 2023, the company signed an agreement with BSF Capital to act as the financial advisor, lead manager, bookrunner, and underwriter on its potential offering. In September 2022, Abdullah Al Othaim Markets Co.’s general assembly approved to sell the company’s 13.65 million shares in AOIC, for SAR 846.5 million.
