(MENAFN- Khaleej Times)

Shares of Almasar Alshamil Education, a leading specialised education group in the GCC, rose 18.41 per cent after its successful listing on the Saudi Exchange (Tadawul) on Wednesday. The shares closed at 23.09 Saudi riyals, an increase of 3.59 riyals from the IPO price.

This marked the company as the top gainer of the day, reflecting strong investor confidence and the success of its initial public offering (IPO).

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Almasar Alshamil Education offered 30,720,400 ordinary shares, representing 30 per cent of its share capital. The IPO raised 599 million Saudi riyals, with institutional demand oversubscribed by 103 times, amounting to approximately 62 billion riyals in orders. At the time of listing, the company had a market capitalisation of 1.997 billion riyals, with Amanat Holdings PJSC retaining a majority stake.

The bell-ringing ceremony marking the first day of trading was attended by Nasser Al Ajaji, Chief of Listing at the Saudi Exchange, Dr. Shamsheer Vayalil, Chairman of Almasar Alshamil Education, Matar Al Dhaheri, Ambassador of the UAE to Saudi Arabia, and Dr. Suhel Ajaz Khan, Ambassador of India to Saudi Arabia.

“This listing signifies the rise of a new economic bridge between Saudi Arabia and the UAE. Our nations share ambition and vision, and through this listing, we are sharing capital, opportunity, and a unified regional marketplace. Almasar stands proudly at the intersection of Vision 2030 and the UAE's vision for sustainable growth and innovation, shaping a future driven by knowledge, skills, and human capital. Almasar is honoured to be one of those bridges,” Vayalil said.

Almasar Alshamil Education is a leading education group operating in both higher education and special education needs (SEN) in Saudi Arabia and the UAE. The company serves approximately 28,000 students through its network of universities, SEN centers, and schools, offering integrated education services across the broader learning ecosystem.

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