Saudi Olayan Group Considers IPO for Some Companies

Olayan Group, one of Saujdi Arabia’s biggest conglomerates, considers to take some of its companies public. Olayan Financing Co. plans to take a holding company with 25 units to the IPO, and also considers to take some of its operating firms to public.

The group had to put its IPO plans on hold in 2017 after Saudi Arabia’s growth numbers had been slower than expected.

Olayan Financing Co. CEO Nabeel Al-Amudi said IPO plans were put on hold for various reasons at that time. Low performance was one of those reasons, al-Amudi added.

Al-Amudi said that the company has witnessed successful IPOs in Saudi Arabia, some of which Olayan participated as investor. The CEO also said he though Saudi economy was growing at a healthy pace after the pandemic.

Olayan Financing, founded in 1969, is the majority shareholder of Olayan Saudi Holding Co. and largely controls the Group’s investments in the Middle East.

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