Saudi Arabian quarry operator Saleh Abdulaziz Al Rashed & Sons has announced its intention to proceed with an initial public offering (IPO) in February and the listing of its ordinary shares on the Main Market of the Saudi Exchange.
Founded in 1975, Saleh Abdulaziz Al Rashed & Sons (SAR) has grown from its first quarry in Riyadh into a national industrial platform at the heart of the Kingdom’s development. It now operates seven quarries and is a leading player in the Saudi mining and construction materials sector.
In September 2025, the Saudi Capital Market Authority (CMA) approved SARs application for registering its share capital and the offering of 5,580,000 of the company’s ordinary shares, representing 30% of its total issued share capital of SAR186m (€42m).
The company had also received the conditional approval of the Saudi Exchange on 24 June 2025 to list its shares. The offering price will be determined following the institutional book-building period which will commence on 1 February 2026 and will end on 5 February 2026.
All offer shares will be sold by the current shareholders, and the company will not receive any proceeds from the offering. Net proceeds will be distributed to the selling shareholders on a pro-rata basis after deduction of offering expenses.
