Saudi Tabreed is preparing to launch an initial public offering (IPO) in collaboration with Citigroup and Al Ahli Capital. The IPO is expected to take place soon this year, though specific details regarding size and timeline remain under discussion. This move follows the Public Investment Fund (PIF) acquiring a 30% stake in the company in 2022, valued at approximately $250 million, reflecting strong confidence in the company’s innovative cooling solutions.
Contribution to Saudi Vision 2030:
Saudi Tabreed contributes to several major strategic projects, such as cooling initiatives in Dhahran and Makkah. The company is a key player in supporting sustainable development in the Kingdom by providing efficient energy solutions in air conditioning and district cooling. Additionally, the company is working on massive projects like the district cooling plant in the Red Sea Project, which is a cornerstone of Saudi Vision 2030.
Expansion and Sustainable Growth:
Through a wide range of projects, Saudi Tabreed continues to implement innovative solutions that integrate industrial innovation with local market needs. This step comes at a critical time for the Saudi economy, as the company’s expansion reflects its commitment to supporting the Kingdom’s vision for sustainable development.
A Bright Future:
While final details of the IPO remain unclear, the move to list Saudi Tabreed’s shares represents a strong strategic step toward enhancing the company’s role in the sector. The IPO is expected to solidify the company’s position as a leader in cooling and sustainable energy solutions in the Kingdom.