Dar Albalad raises SAR 205M in oversubscribed Saudi main market IPO
What's the deal? Dar Albalad for Business Solutions Company, a leading IT solutions provider in Saudi Arabia, has completed its initial public offering on the Tadawul All-Share Index (TASI), raising SAR 204.8 million (roughly $55M). The company offered 21 million ordinary shares — 30% of its share capital — priced at SAR 9.75 per share, implying a market capitalisation of SAR 682.5 million (approximately $182M). Dar Albalad listed on May 20, 2026.
Baker McKenzie acted as sole transaction legal counsel. AlJazira CapitalDealroom has a profile for this one. Try Dealroom → served as financial advisor, lead manager, and underwriter, with Emirates NBD Capital KSADealroom has a profile for this one. Try Dealroom → as joint bookrunner.
Why now? The IPO landed amid what Baker McKenzie described as "heightened regional complexity and challenging market conditions." Despite broader volatility, investor demand was emphatic — the offering was more than 66 times oversubscribed. The Capital Market Authority (CMA) approved the listing back on December 31, 2025, giving the company a runway to time its market debut.
What could go wrong? Regional geopolitical tensions and global market swings remain persistent risks for newly listed companies. Dar Albalad operates in a competitive IT solutions market, and maintaining the investor confidence that drove such heavy oversubscription will depend on post-listing performance and execution.
The signal: Dar Albalad's 66-times oversubscription sits within a broader wave of Saudi IT and tech-services companies tapping public markets as Vision 2030 reshapes capital flows away from hydrocarbons. That both AlJazira Capital and Emirates NBD Capital KSA — corporate investors with deep regional deal books — anchored the offering suggests institutional confidence in the Kingdom's digitisation pipeline, even as wider market volatility dampens listing activity elsewhere in the Gulf.
Read more: theoath-me.com
