MGC remains committed to its expansion plans and long-term strategy
Mutlaq Al-Ghowairi Contracting Co. (MGC) has decided not to proceed with its planned initial public offering (IPO) after consulting with its financial advisers, Al Rajhi Capital and Morgan Stanley Saudi Arabia. 
The IPO was withdrawn despite being multiple times covered by institutional investors, according to a statement to Tadawul.
The decision followed a careful review of the objectives and strategy of the company and its selling shareholders.
MGC said it remains committed to its expansion plans and long-term strategy, and will continue to explore various growth opportunities while reassessing the option of an IPO in the future.
MGC remains committed to its expansion plans and long-term strategy
Mutlaq Al-Ghowairi Contracting Co. (MGC) has decided not to proceed with its planned initial public offering (IPO) after consulting with its financial advisers, Al Rajhi Capital and Morgan Stanley Saudi Arabia.
The IPO was withdrawn despite being multiple times covered by institutional investors, according to a statement to Tadawul.
The decision followed a careful review of the objectives and strategy of the company and its selling shareholders.
MGC said it remains committed to its expansion plans and long-term strategy, and will continue to explore various growth opportunities while reassessing the option of an IPO in the future.
