Dar Albalad for Business Solutions Company, a Riyadh-based IT services provider, has set a final offer price of SAR9.75 per share for its initial public offering on the Saudi stock exchange, the company said in a statement on Monday.
The pricing values the flotation at SAR205 million ($55 million) and marks the first listing across the GCC since the start of the Iran conflict in April.
The institutional tranche closed 66.6 times oversubscribed. Retail subscription opens on May 10 and runs through May 14. The company has not announced a listing date for the shares.
Dar Albalad operates IT services across Saudi Arabia and the wider GCC for both private and public sector clients. The firm employs more than 850 people and holds a share capital of SAR70 million.
The IPO consists of 21 million shares, representing a 30 percent stake in the company, according to an announcement in April.
New listings on the Saudi exchange have slowed sharply this year. Only one company floated shares in the first quarter, quarrying and construction materials firm Saleh Abdulaziz Al Rashed & Sons, which raised $67 million.
Companies raised $3.9 billion from IPOs on the Saudi main market last year, slightly below the $4.1 billion raised in 2024.
The pricing and subscription timeline come as Saudi Arabia seeks to deepen its capital markets under Vision 2030, despite a marked slowdown in activity since the outbreak of regional conflict.
