Bond.az – Saudi Arabia's Mutlaq Al-Ghowairi Contracting Co. (MGC) is seeking to raise up to 3 billion riyals ($799 million) through an IPO in Riyadh.
Shareholders are offering 240 million shares, representing a 30% stake, at a price range of 11 to 12.5 riyals per share.
At the top end, MGC would be valued at about 10 billion riyals ($2.67 billion).
The offering is set to become the Gulf region's first major IPO of 2026.
Founded in 1977 and headquartered in Riyadh, MGC specializes in water and transportation infrastructure projects.
