United International Holding Company announces its intention to float on the Saudi Exchange’s Main Market

AL KHOBAR, SAUDI ARABIA – United International Holding Company (“UIHC” or the “Company” or the “Issuer”), the parent of United Company for Financial Services (“Tas’heel”) and Procco Financial Services W.L.L. (”Procco”) (to be referred to, together with its subsidiaries, as the “Group”), one of the largest providers of Sharia-compliant consumer finance services in the Kingdom of Saudi Arabia (the “Kingdom”), today announces its intention to proceed with an initial public offering (“IPO” or the “Offering”) and the listing of its shares (“Shares”) on the Saudi Exchange’s Main Market.

On 26th June 2024, the Capital Market Authority (“CMA”) approved the Company’s application for registering its share capital and offering 7,500,000 ordinary shares of the Company’s total capital (the “Offer Shares” and each as an “Offer Share”). The Offer Shares represent 30% of the Company’s issued share capital upon completion of the Offering.

The Offering proceeds after deducting IPO-related expenses will be distributed to United Electronics Co. (“eXtra”), the Selling Shareholder (the “Selling Shareholder” or “Substantial Shareholder”) in proportion to the number of Offer Shares to be sold by it in the Offering. The Company will not receive any portion of the Offering proceeds.

For more information, visit: ipo.unitedholding.com.sa

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