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Thndr Claps » Saudi Claps » Industrials 🏗 » Umm Al Qura For Development and Construction considering an IPO

Umm Al Qura For Development and Construction considering an IPO

by Omar El Shorafa
January 12, 2023

The Clap
According to Bloomberg, Umm Al Qura For Development and Construction is working with banks to arrange an IPO on the Saudi Tadawul.

What
The company aims to serve the residents of Makkah Al-Mukarramah and its guests, including pilgrims and Umrah performers, by developing the city.

So What
The Saudi Tadawul saw many new offerings in 2022 compared to 2021.

Now What
Offering details such as size and timing are still in the preliminary stages and are subject to change.

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