Saudi “Jadwa” is planning deals worth 532 million dollars… and more offerings

Saudi Jadwa Investment Company plans to invest around 2 billion riyals ($532 million) in new private equity deals and include stakes in 3 companies from its portfolio by 2025, as it looks to benefit from rapid economic growth in the region.

For his part, Tariq Al-Sudairy, Managing Director and CEO, said in written comments to Bloomberg, seen by Al-Arabiya.net, that the private equity company is in advanced talks to complete two deals in the next 12 months, focusing on the healthcare industries and the consumer sector. .

In a separate press release on Tuesday, Jadwa said it had completely transferred its 30% stake in Saudi Aramco’s base oil company, Luprev.

The initial public offering of 50 million shares in the refinery, known as Luberef, was priced at the upper end of the range, raising 4.95 billion riyals. Trading will start on Wednesday on the Saudi Stock Exchange.

Luprev is the latest initial public offering worth more than $1 billion in the Gulf region, outperforming the global slowdown in share sales. The deal came at the end of the year, which usually sees many investors shy away from risk.

This comes as high oil prices have benefited Gulf economies, markets and corporate balance sheets, helping to drive a wave of listings.

Jadwa added in the statement that the exit from Luberef represents the company’s eighth exit from its private equity investments, which raised the company’s total private equity distributions to clients to 11 billion riyals.