Saudi Arabia’s Capital Market Authority has approved the application of Facilities Investment Management Company to offer 42 million shares to the public, opening the door for the Dammam-based firm to make its debut on the Saudi Exchange. The approval, disclosed on Thursday, represents a significant step in the Kingdom’s ongoing effort to deepen its capital markets and broaden the range of listed companies available to local and international investors.
A Facilities Giant Heads to Market
Founded in 2018, Facilities Investment Management Company — known by its ticker FMCO — is a Saudi closed joint-stock company headquartered in Dammam. The company operates in the integrated facilities management sector, offering what it describes as total integrated facilities management solutions designed to enhance asset efficiency and ensure operational sustainability across a broad client base.
The 42 million shares being offered to the public represent 30 percent of the company’s total share capital of 140 million shares, each with a nominal value of SAR 1. The regulator confirmed that the prospectus will be published well ahead of the initial public offering, and noted that the approval remains valid for six months from the date of the decision. Should the offering and listing not be completed within that window, the approval will be deemed void.
Services and Ownership Structure
FMCO’s service portfolio spans cleaning and maintenance, landscaping, waste management, pest control, security services, office management, reception and personal services, and hospitality — a broad footprint that positions it within one of Saudi Arabia’s fastest-growing non-oil service sectors as the Kingdom continues its infrastructure and urban development push under Vision 2030.
Al Yamama Holding Group is the company’s largest shareholder with a 78.4 percent stake, holding 109.76 million shares. Abdullah Saad Al-Muhaish follows with 19.6 percent, or 27.8 million shares, while Hamad Mohammed Hamad Al-Khaldi holds the remaining 2 percent at 2.8 million shares. The post-offering free float of 30 percent will represent a meaningful increase in the company’s public accessibility.
Part of a Broader IPO Pipeline
The FMCO approval adds to a growing queue of Saudi companies preparing for market entry in 2026. The Tadawul, which closed the first quarter of the year with SAR 8.9 billion in negotiated deals, continues to attract new listings as both retail and institutional appetite for Saudi equities remains strong. The CMA’s swift approval of FMCO’s offering underscores the regulator’s commitment to facilitating capital formation while maintaining the disclosure standards that investors expect.
Full details on the IPO timeline, offer price, and subscription period are expected to be made public once the prospectus is released ahead of the formal offering date.
