Saudi Arabian Contractor MGC Is Said to Explore Riyadh Listing

Saudi Arabian Contractor MGC Is Said to Explore Riyadh Listing

Saudi Arabia’s Mutlaq AlGhowairi Contracting Co. is weighing an initial public offering in Riyadh, according to people familiar with the matter, which could add to a wave of listings in the kingdom that’ve raised over $10 billion in the last two years.

Saudi contractor MGC hires advisors for listing

Saudi contractor Mutlaq AlGhowairi Contracting (MGC) has hired advisors for a potential listing on the kingdom’s stock exchange. Moelis & Co will act as financial advisor on the planned initial public offering, while Al Rajhi Capital will serve as the deal arranger, Bloomberg reported, quoting unnamed informed sources. More banks could be added later, as the offering is expected by early next year. The deal could value MGC in the range of SAR12 …