17 November 2025: Riyadh, Saudi Arabia – Consolidated Grünenfelder Saady Holding Company (“CGS” or the “Company“), a market leader in cold chain technology providing high quality and innovative cold chain solutions, with a particular focus on advanced refrigeration, refrigerated transport solutions, specialized mobile units and design/manufacturing of complex units in the Kingdom of Saudi Arabia, today announces the successful completion of the book building process for participating parties and the Final Offer Price (“Final Offer Price“) for the Company’s Initial Public (“IPO” or the “Offering“).
The Final Offer Price for the Offering has been set at SAR 10.00 per share, implying a market capitalization of SAR 1.00 billion (USD 266.67 million) at listing.
The institutional book-building process ended with a subscription coverage of 61.6 times, while the recorded orders from institutional investors stood at approximately SAR 18,487.84 million (USD 4,930.10 million).
The Individual Investors’ subscription period will last for two days, commencing on 26th November and ending on 27th November 2025G.
The IPO of CGS comprises an offer of 30,000,000 ordinary shares, representing 30% of the Company’s issued share capital by way of a sale by the Selling Shareholders.
The financial advisor may, in coordination with the Company, reduce the number of shares allocated to institutional investors to 24,000,000 shares, representing 80% of total Offer Shares, to accommodate for individual subscriber demand. A maximum 6,000,000 ordinary shares, representing 20% of the total Offer Shares, will be allocated to Individual Subscribers.
With respect to the Offering, the Company has appointed AlJazira Capital to act as Financial Advisor, Lead Manager, Bookrunner and Underwriter, and Arqaam Capital as Joint Bookrunner.
The Company’s prospectus includes all details of the IPO. For additional details please visit the Company’s IPO website ipo.cgs.com.sa or the website of the Financial Advisor www.aljaziracapital.com.sa or the website of CMA www.cma.org.sa.
Individual Investors wishing to subscribe to the Offer Shares must submit their subscription requests electronically through the websites and platforms of the Receiving Agents that provide this service to subscribers, or through any other means provided by the Receiving Agents through which the Individual Investors will be able to subscribe to the Company’s shares during the Offering Period.
Individual Investors can submit their subscription requests to one of the following Receiving Agents: AlJazira Capital, BSF Capital, Al Rajhi Capital, SNB Capital, Riyad Capital, Albilad Investment Company, Alistithmar for Financial Securities and Brokerage, Derayah Financial, Alinma Capital, ANB Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, GIB Capital, Musharaka Capital, EFG Hermes KSA, and Awaed Alosool Capital.
