Saudi Tabreed works with banks to arrange for IPO: Report

09/01/2025 Argaam
Logo ofSaudi Tabreed District Cooling Co.

Logo of Saudi Tabreed District Cooling Co. 

Saudi Tabreed District Cooling Co. is working with Citigroup Inc. and SNB Capital for a potential initial public offering (IPO) in Riyadh, Bloomberg reported, citing people familiar with the matter.

 

The firm, backed by the Public Investment Fund (PIF), could go public as soon as this year.

 

For More IPOs

 

No final decisions have been made, with details like size and exact timeline still under discussion, the sources noted.

 

Representatives for the PIF and SNB did not respond to requests for comment, while a Citi spokesperson declined to comment.

 

UAE's Tabreed holds a 22% stake in its Saudi affiliate, according to Argaam data.

 

In December 2022, the PIF acquired a 30% stake worth about $250 million in Saudi Tabreed. Meanwhile, UAE's Tabreed acquired additional shares in its Saudi subsidiary for SAR 55 million (AED 53.7 million).  

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.