Search SaudiArabiaPR.com

Home >> Banking & Investments

Amlak International Announces Intention to List on Saudi Stock Exchange

Amlak International Announces Intention to List on Saudi Stock Exchange

Sunday, June 14, 2020/ Editor -  

Share

Home >> Banking & Investments
June 14, 2020:   Amlak International for Real Estate Finance (“Amlak”, “Amlak International” or “the Company”), Saudi Arabia’s leading non-bank real estate finance company, announces its intention to proceed with an Initial Public Offering (the “IPO” or the “Offering”) on the Main Market of the Saudi Stock Exchange (“Tadawul”). The Offering will comprise 27,180,000 Ordinary Shares. The Offer Shares represent 30% of the Company’s Share Capital, and the Net Proceeds of the Offering will be paid to the Selling Shareholders on a pro-rata basis. The Capital Market Authority (“CMA”) issued its resolution on 25 December 2019, approving the application for the offering. The Company has appointed NCB Capital Company as Sole Financial Advisor, Sole Bookrunner, Sole Underwriter and Lead Manager in relation to the Offer Shares.
 
OVERVIEW OF AMLAK INTERNATIONAL
 
• Amlak International is a Saudi non-bank real estate finance company established in 2007 and licensed by the Saudi Arabian Monetary Authority (“SAMA”) in 2013 to provide Sharia-compliant real estate financing solutions to corporate (including high-net-worth-individuals “HNWIs”) and individual clients. 
 
• Highlights:
 
o Among the most efficient in its sector with Earnings Before Tax (“EBT”) margin of 34.4% in 2019 and 44% in Q1 2020
o Strong and stable payout record with 42% of capital paid back in cash dividends since 2013
o State-of-the-art Temenos T24 technology platform enables efficient scalability of operations  
o Resilient and predictable revenues from diverse corporate and individuals real estate financing portfolio
o Robust capital base and low debt/equity ratio of 1.88x with headroom for growth, SAR 1.37 billion in unutilized bank facilities as at Q1 2020
 
• Amlak’s objective is to be the Kingdom’s leading provider of Sharia-compliant real estate finance services, and to achieve balanced and steadily increasing revenues, thereby cementing its leadership position within the Saudi real estate finance industry.
 
• The Company benefits from a highly-experienced management team, responsible for implementation of strategy, achieving positive and stable performance along with high levels of operational efficiency.
Mr. Abdullah Al Howaish, Chairman of Amlak International, commented:
 
“The announcement of our intention to list on Tadawul is a historic moment for the Company, with the forthcoming IPO a testament to our commitment to future growth. Amlak International plays a leading role in Saudi Arabia’s burgeoning non-bank real estate financing industry, and has positioned itself to take full advantage of the opportunities that today’s market presents. Our listing on Tadawul marks a new chapter in the story of the Company, and the Board has every expectation that management and staff will fulfil the trust that the market places in us. We look forward to delivering on the strategic roadmap we have set out for the years ahead.”
 
Mr. Abdullah Al Sudairy, Chief Executive Officer at Amlak International, said:
 
“We are ready to capture a growing number of opportunities, in particular those provided by the positive market dynamics created by the Kingdom’s Vision 2030 reform programme. Among our most important competitive advantages is our diverse lending portfolio, which covers the full corporate and individuals spectrum. This will enable Amlak to build on its strong position in the corporate real estate financing segment, while supporting Saudi nationals in their ambitions to buy and build homes. Demand for real estate financing is accelerating, and our substantial funding base and first-class technology platform put us in a position to increase momentum.”

Previous in Banking & Investments

Next in Banking & Investments


Home >> Banking & Investments Section

Latest Press Release

Children Envision Their Future in Pandora's World Children's Day Short Film

5G Holds the Key to Saudi Arabia's Digital Future

Tonda Reine de Mai for Elegant Lady

[SUR]Naturel – Fine Jewellery

Saudi Arabia to Make Golf Free for Women in World-first Initiative Aimed at Grow ...

Balqees Fathi Launches BEX Beauty

Enhance your Mood with Rasasi Perfumes

Buyers Can Seal Deals with Contacts Around the World at WTM Virtual

La Panthère Perfume

Hublot Celebrates Oman's Jubilee

Saudi Woman Draws the World's Largest Coffee Painting Using Expired Granules

Saudi Arabia Leading GCC entries To Date in the 10th annual National Geographic ...

My Review Of Laser Treatment And Spider Veins

Unique Format Revealed for Next Month's Saudi Ladies Team International

One of World's Largest PEPSI Bottling Plant Goes Live with Infor WMS in Saudi Ar ...

Almarai Announces Next Phase of Digital Transformation to Boost Middle East's Fo ...

Consumers Expect All Brands to Provide Wellness Offerings, New Ogilvy Study Find ...

Saudi's International Medical Center Wins the International CHIME 2020 Digital H ...

Stunning Depth Haute Joaillerie Collection 2020

BofA - National Commercial Bank: Creating Saudi's National Champion of Banking