Riyadh – Mubasher: Yaqeen Capital, acting in its capacity as the financial advisor and lead manager, has announced the intention of MSGA Investment Company to proceed with an initial public offering (IPO) and the listing of its shares on the Saudi Exchange’s (Tadawul) Parallel Market (Nomu).
The offering will consist of 11.11 million ordinary shares, representing 10% of the company’s total share capital following the completion of the offering and a planned capital increase, according to a bourse disclosure.
Tadawul approved MSGA Investment’s application for listing on 2 November 2025, while the Capital Market Authority (CMA) issued its approval for the registration and offering of the shares on 31 March 2026.
The offering is exclusively targeted at qualified investors as defined by the CMA’s regulatory framework.
According to the disclosed timeline, the offering period is scheduled to begin on 17 June and will conclude on 24 June 2026.
Meanwhile, the final offer price for the shares will be determined at the end of the book-building period.
Following the close of the subscription, the final allocation of shares is expected to be announced on 28 June, with the refund of any surplus subscription funds slated for 30 June 2026.
Trading of MSGA Investment on Nomu will commence once all regulatory requirements and procedures are finalized.
The Riyadh-based company was founded in 2020 and has established a specialized presence in the real estate development and investment sector. It focuses on the construction of residential and non-residential units using modern construction methods, with a particular emphasis on the affordable housing segment.
Financial Performance
MSGA Investment’s financial disclosures reveal a period of rapid growth. For 2025, the company reported total revenues of SAR 162.8 million, a significant increase from SAR 12.4 million reported in 2023.
This represents a compound annual growth rate (CAGR) of 262% over the three-year period.
Net profit also saw substantial expansion, reaching SAR 61.8 million in 2025, reflecting a CAGR of 293% since 2023.
The company maintained a gross profit margin of 40.29% and a return on equity of 38.53% for the 2025 fiscal year.
Operationally, MSGA has developed and sold more than 370 residential units between 2023 and 2025.
As of the end of 2025, the company had more than 620 units under construction and an additional 465 units under development for third-party projects.
Moreover, the net proceeds from the IPO are intended to be used entirely to fund the company’s expansion plans, aimed at strengthening its market position and ensuring sustainable long-term growth.
The move to go public represents a significant milestone for MSGA Investment Company as it transitions from a wholly owned entity under Mohammed Ali Saud Al Sajri to a publicly traded firm.
