Saudi Contracting Firm Plans Initial Public Offering in Riyadh to Raise Up to $799 Million

Mutlaq Al-Ghowairi Contracting Co., a Saudi Arabian firm, is preparing for an initial public offering in Riyadh, aiming to secure nearly $800 million. This significant move represents the first major listing in the Gulf region for 2026. The company's owners are offering a 30% stake, totaling 240 million shares, within a specified price range.