Logo of Mutlaq Al-Ghowairi Contracting Co. (MGC)
Mutlaq Al-Ghowairi Contracting Co. (MGC) said it issued today the prospectus for offering 30% of shares on the main market, TASI. 
The shares offered represent 30% of capital reaching SAR 800 million, divided into 800 million shares at a nominal value of SAR 1 per share. The offering price will be set after the book-building process.
The retail subscription period will run during the period June 15 -17, 2026.
The period for participating entities to submit subscription applications and the book-building process will start on Sunday, May 31 through June 4, 2026.
In December 2025, the Capital Market Authority (CMA) approved the company’s request to register and offer 240 million shares in an initial public offering (IPO) on TASI.
Subscription to the floated shares will be limited to two investor tranches:
Tranche (A): Participating entities: This tranche includes entities eligible to participate in the book-building process under the instructions for book building and allocation of shares in IPOs issued by the CMA;
Tranche (B): Retail subscribers: This tranche includes any natural person who has an investment account and an active portfolio with any receiving entity, or who is eligible to open an investment account with a capital market institution. Retail subscribers will be allocated up to 72 million ordinary shares, representing 30% of the total offered shares.
MGC was established in 1977 as a sole proprietorship by Mutlaq Damouk Mutlaq Al-Ghowairi Al-Otaibi.
According to the prospectus, the company’s current main activity is undertaking engineering, procurement and construction projects related to infrastructure in the water, transportation and urban development sectors, in addition to infrastructure operation and maintenance works in the water and transportation sectors.
The company is headquartered in Riyadh and has one branch to carry out its various activities in the city. All operations and assets are concentrated in Saudi Arabia.
MGC said it generated contract revenue of SAR 3.2 billion in 2024, while net profit for the same year stood at SAR 1.20 billion.
MGC reported a net profit of SAR 419.8 million for the six months ended on June 30, 2025, compared with SAR 751 million in a year-earlier period.
Company Information
Item
Details
Company
Mutlaq Al-Ghowairi Contracting Co.
Company Activities
Construction, operation and maintenance works related to infrastructure projects in the water, transportation and urban development sectors.
Share Capital
SAR 800 million
Number of Shares
800 million shares
Nominal Value
SAR 1 per share
IPO Information
Item
Details
Offered Stake
30%
Number of Shares
240 million shares
Retail Subscription
Up to 72 million shares representing 30% of total offered shares
Minimum Subscription (Participating Parties)
25,000 shares
Minimum Subscription (Retail Investors)
10 shares
Maximum Subscription (Participating Parties)
39,999,999 shares
Maximum Subscription (Retail Investors)
2,500,000 shares
Price Range
During the book-building period starting Sunday, May 31, 2026
Offering Period
June 15- 17, 2026
Final Allocation
No later than Monday, June 22, 2026
Surplus Refund
No later than Tuesday, June 23, 2026
Logo of Mutlaq Al-Ghowairi Contracting Co. (MGC)
Mutlaq Al-Ghowairi Contracting Co. (MGC) said it issued today the prospectus for offering 30% of shares on the main market, TASI.
The shares offered represent 30% of capital reaching SAR 800 million, divided into 800 million shares at a nominal value of SAR 1 per share. The offering price will be set after the book-building process.
The retail subscription period will run during the period June 15 -17, 2026.
The period for participating entities to submit subscription applications and the book-building process will start on Sunday, May 31 through June 4, 2026.
In December 2025, the Capital Market Authority (CMA) approved the company’s request to register and offer 240 million shares in an initial public offering (IPO) on TASI.
Subscription to the floated shares will be limited to two investor tranches:
Tranche (A): Participating entities: This tranche includes entities eligible to participate in the book-building process under the instructions for book building and allocation of shares in IPOs issued by the CMA;
Tranche (B): Retail subscribers: This tranche includes any natural person who has an investment account and an active portfolio with any receiving entity, or who is eligible to open an investment account with a capital market institution. Retail subscribers will be allocated up to 72 million ordinary shares, representing 30% of the total offered shares.
MGC was established in 1977 as a sole proprietorship by Mutlaq Damouk Mutlaq Al-Ghowairi Al-Otaibi.
According to the prospectus, the company’s current main activity is undertaking engineering, procurement and construction projects related to infrastructure in the water, transportation and urban development sectors, in addition to infrastructure operation and maintenance works in the water and transportation sectors.
The company is headquartered in Riyadh and has one branch to carry out its various activities in the city. All operations and assets are concentrated in Saudi Arabia.
MGC said it generated contract revenue of SAR 3.2 billion in 2024, while net profit for the same year stood at SAR 1.20 billion.
MGC reported a net profit of SAR 419.8 million for the six months ended on June 30, 2025, compared with SAR 751 million in a year-earlier period.
Company Information
Item
Details
Company
Mutlaq Al-Ghowairi Contracting Co.
Company Activities
Construction, operation and maintenance works related to infrastructure projects in the water, transportation and urban development sectors.
Share Capital
SAR 800 million
Number of Shares
800 million shares
Nominal Value
SAR 1 per share
IPO Information
Item
Details
Offered Stake
30%
Number of Shares
240 million shares
Retail Subscription
Up to 72 million shares representing 30% of total offered shares
Minimum Subscription (Participating Parties)
25,000 shares
Minimum Subscription (Retail Investors)
10 shares
Maximum Subscription (Participating Parties)
39,999,999 shares
Maximum Subscription (Retail Investors)
2,500,000 shares
Price Range
During the book-building period starting Sunday, May 31, 2026
Offering Period
June 15- 17, 2026
Final Allocation
No later than Monday, June 22, 2026
Surplus Refund
No later than Tuesday, June 23, 2026
