Marketing Home Group announces the appointment of Alinma Investment Company as financial adviser to put the group’s shares up for the initial public subscription and include them in the main Saudi equity market (Tadawul).
MHG signed the agreement on Saturday with the Alinma Investment Company on the initial public subtraction of domestic equity trading. Alinma Investment Company is the investment arm of Alinma Bank, a company licensed by the Capital Market Authority. It carries out all securities business, including dealing, keeping, managing investments, operating funds, arranging, and providing financial advisory services compatible with Islamic law.
The Group’s Chief Executive Officer Eng. Mussad Al Qfari stated that “Putting the Group’s shares on a subscription is an important step for corporate governance to take a long-term approach with high governance and an integrated task force that aspires to enhance the Group’s presence and financial strength, in line with strategies to achieve long-term objectives consistent with Vision 2030.”
It should be noted that MHG started its business in 2006, with distinctive building finishing materials and architecture brands, lighting products, smart technical systems, as well as business activities. It seeks to deliver innovative and effective building solutions by providing high-efficiency and valuable products and services; contributing to the manufacture and supply of globally-specific products in local markets and improving the quality of life.
Al-Qafari added that “the announcement of equity in (Tadawul) adds to the Group’s remarkable presence in the market, enhances its leading position in engineering and building materials, and allows it to benefit from the promising market behind which a selection of qualified competencies, expertise, and cadres in Saudi market sectors enable future generations to grow and expand.
