Miahona Company, one of the major developers of water and wastewater infrastructure in the Kingdom of Saudi Arabia has announced its plans to list on the Saudi Stock Exchange, Tadawul.
The company will offer 48,277,663 shares, representing 30% of its issued share capital of 160,925,543 shares. The final offer price of the Offer Shares will be determined after the book-building period, which will last from April 28 until May 2, 2024.
Miahona is fully owned by Vision Invest, a Saudi investment holding company with a focus on public and private sector partnerships (PPP).
Miahona is a Saudi joint-stock company established in 2008. The company and
its subsidiaries are among the first developers of water and wastewater infrastructure
under the PPP model in the Kingdom.
The decision adds to an IPO boom in Gulf markets over the last two years driven by high oil prices and foreign institutional investor interest. Earlier today, the Kingdom’s low-cost airline flynas confirmed its plans to go public this year.
