Saudi's Bidaya mulls Tadawul IPO, Sukuk issue
Riyadh – Mubasher: Saudi Arabia's Bidaya Home Finance is considering an initial public offering on the local bourse, according to the chief executive office.
CEO Mazen Al-Ghunaim, in an exclusive interview with Mubasher, added that his company plans to float part of its capital for public subscription.
He also revealed targeting the control of a competitive share in the kingdom's real estate financing market.
The company is seeking financing sources, either via bank loans or the issuance of bonds, according to the CEO.
Al-Ghunaim also said his company intends to open new branches in Jeddah and Dammam during the second quarter of this year.
Bidaya offers Sharia-compliant home financing solutions to its clients. Established in April, 2015, the company is the first among new companies licensed by the Saudi Arabian Monetary Agency (SAMA).
