Motlaq Al-Ghowairi Contracting has announced plans to launch an initial public offering of 240 million shares on Saudi Arabia’s main stock market “TASI,” representing 30% of the company’s capital in one of the Kingdom’s major upcoming infrastructure sector listings.
The announcement was made through Al Rajhi Capital and Morgan Stanley Saudi Arabia, acting as financial advisers, bookrunners, and underwriters for the offering.
The company previously received approval from Saudi Tadawul Group to list its shares on the main market in November 2025, followed by approval from the Capital Market Authority for the IPO in December of the same year.
The company stated that the final offering price will be determined after the completion of the book-building process, noting that no new shares will be issued as part of the offering. Proceeds from the IPO, after deducting expenses, will be distributed to the selling shareholders according to their ownership stakes.
The price range announcement and institutional book-building process are scheduled to begin on May 31, while the final offer price is expected to be announced on June 8. Final share allocation is set for June 17.
Motlaq Al-Ghowairi Contracting is considered one of Saudi Arabia’s key infrastructure companies, operating across water, transportation, and urban development sectors since its establishment in 1977.
The company’s business model focuses on design, procurement, construction, operation, and maintenance services, enabling it to participate throughout the full lifecycle of infrastructure projects.
According to the company’s prospectus, annual profits reached approximately SAR 1.49 billion in 2023, while net profits totaled SAR 1.21 billion in 2024, alongside SAR 819 million during the previous year. Net profit for the first quarter of the current year reached SAR 202 million.
The company also employs more than 450 engineers and a workforce exceeding 4,700 employees as of the end of December 2025.
