Riyadh –  Kinan International Real Estate Development Company intends to trade 3.60 million ordinary shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).

Saudi Fransi Capital, the financial advisor and lead manager for the potential transaction, indicated the offered shares represent 3% of the company's total shares, according to a bourse filing.

The offering period will take place from 25-29 February 2024, while the price of the final offering will be disclosed following the book-building period.

Tadawul passed the company’s Nomu listing on 14 May 2023, while the Capital Market Authority (CMA) granted its approval on 20 December last year.

Regarding the financial position, the group posted revenues of SAR 201 million as of 30 June 2023.

The net income hit SAR 63.40 in the first half (H1) of 2023, while the total assets reached SAR 2.93 billion.

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