RIYADH: Shares of Saudi Home Loans, a Shariah-compliant real estate lending firm, will start trading on Tadawul’s main market from Apr. 20 onwards.
Operating since 2007, SHL is 40-percent owned by Arab National Bank, the second-largest shareholder is Dar Al Arkan, with 15 percent of the share capital.
The Riyadh-based company raised SR600 million ($160 million) in an initial public offering last month that saw huge demand from investors and was priced at SR20 per share.
SHL generated orders worth SR1.6 billion from retail subscribers, and the book-building was 50 times oversubscribed.
Saudi Home Loans is the main market’s seventh listing this year.
Despite global market volatility, investor interest in the Kingdom’s IPOs has been rapidly growing so far in 2022, with Tadawul being one of the region’s busiest stock exchanges.
