Saudi Arabia’s Public Investment Fund (PIF) has announced the completion of the sale of part of its stake in Umm Al Qura for Development and Construction Company (MASAR), through an accelerated bookbuild offering.
The offering comprised 48 million shares, representing 3.3 percent of MASAR’s share capital. The total value of the offering was more than $253 million (more than SAR 950 million), with a final offer price of $5.28 (SAR 19.8) per share.
According to the statement, both local and international institutional investors participated in the offering. The offering was oversubscribed, reflecting investors’ confidence in MASAR and the attractiveness of the Saudi capital market.
PIF is one of the world’s most impactful investors, enabling the creation of key sectors and opportunities that help shape the global economy, deliver returns, and drive the economic transformation of Saudi Arabia.
PIF’s Strategic Investment Approach
Saad Alkroud Head – Local Real Estate Investment Division PIF
“By creating opportunities for institutions to invest in MASAR, PIF is further broadening the company’s investor base. The offering aligns with our investment strategy, which focuses on deploying capital and income into the domestic Public Investment Fund ecosystem to further strengthen Saudi Arabia’s private sector and deepen Saudi capital markets. This mandate allows Public Investment Fund to continue to drive the sustainable development and diversification of the country’s economy.”
Saudi PIF’s remaining stake equates to 234.3 million shares in the company, representing 16.3 percent of MASAR’s share capital. The offering contributes to increasing MASAR’s free float and further broadens its institutional investor base.
As per the reports, the offering is designed to unlock substantial capital, which will be reinvested into high-priority domestic projects. This aligns with Public Investment Fund’s broader objective to support the Kingdom’s Vision 2030 goals by driving sustainable growth, enhancing infrastructure, and fostering innovation.
