Summary
Dar Al Balad Business Solutions Co., a Saudi information technology services firm, is pressing ahead with plans to list shares on the kingdom’s stock exchange despite ongoing disruptions related to the regional conflict. The offering is being structured as an institutional book-building and is slated to take place over a five-day window later this month.
Offer details and timing
A shareholder of Dar Al Balad intends to place 21 million shares, which represent a 30% ownership stake in the company. The institutional book-building period is scheduled from April 26 through April 30. Financial arrangers for the sale are AlJazira Capital and Emirates NBD. The first-time share sale is expected to raise less than $75 million.
Context within the region
According to the company’s disclosures, Dar Al Balad is the first firm in the Gulf to launch a share sale since the outbreak of the U.S.-Israel war against Iran on February 28. That timing is noted in the company’s offering materials, which also provide recent financials.
Company background and recent performance
Dar Al Balad was established in 2001 by an individual who previously held an executive role at Saudi Basic Industries Corp. The firm provides information technology services and business solutions. Its prospectus reports revenue of 315 million riyals and net profit of 51 million riyals for the year 2025.
Implications for markets and sectors
The planned share sale may draw attention from institutional investors focused on regional technology and business services companies. The offering size and timing are being presented against the backdrop of geopolitical tensions, which the prospectus explicitly references.
Note: The details above are drawn from the company’s prospectus and the offering timetable provided by the arrangers. No additional events, figures, or outcomes are asserted beyond those disclosed.