PIF has sold 48 million shares in MASAR, raising over SAR 950 million and expanding the company's institutional investor base.
Target Information
The Public Investment Fund (PIF) has successfully executed the sale of 48 million shares in Umm Al Qura for Development and Construction Company (MASAR), which constitutes 3.3% of the company’s share capital. This strategic share sale was conducted via an accelerated bookbuild offering that garnered over SAR 950 million (approximately $253 million). The final offer price was set at SAR 19.8 per share, indicating strong market interest.
The offering was notably oversubscribed, signaling robust confidence among both local and international institutional investors in MASAR's prospects and the overall appeal of the Saudi capital market. With this transaction, PIF retains a significant stake in MASAR, amounting to 234.3 million shares, or 16.3% of the company’s total share capital, thereby enhancing MASAR's free float.
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Industry Overview
The real estate and construction industry in Saudi Arabia has been witnessing remarkable growth, driven by the government’s Vision 2030 initiative, which aims to diversify the economy away fro
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Public Investment Fund (PIF)
invested in
Umm Al Qura for Development and Construction Company (MASAR)
in
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Disclosed details
Transaction Size: $253M