Al Bawani studying plans to list on Tadawul: CEO

Al Bawani Co. is currently studying plans to list on the Saudi Exchange (Tadawul), CEO Fakher Al Shawaf told Asharq News.

This strategic move aligns with the company's growth objectives and is in line with Saudi Vision 2030 goals, Al Shawaf said.

He emphasized the pivotal role of its subsidiaries in construction and investment sectors, actively contributing to major development projects.

The company aims to contribute to the success of the vision through various investment, industrial, and construction projects outlined in its plan for the next five years. The CEO added he believe the company is on the right track.

Al Shawaf highlighted significant growth across all group subsidiaries, citing major contracts and substantial contributions to diverse and prestigious projects in the Kingdom, such as NEOM, Trojina, Expo 2030, and the upcoming World Cup.

According to data available on Argaam, the Public Investment Fund (PIF) announced, in February 2024, an investment of SAR 5 billion by way of subscribing to new shares as part of the capital increases representing significant minority stakes, in four leading local construction companies: Nesma & Partners Contracting Co., ElSeif Engineering Contracting Co., Al Bawani Co., and Almabani General Contractors Co.