Saudi Arabia’s Theeb Rent-a-Car to raise $137.6m in IPO

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Sun, 2021-03-28 10:14

DUBAI: Theeb Rent-a-Car, the Riyadh-based vehicle rental company, will start trading on the Saudi stock exchange on Monday.
The shares offered are expected to reach a gross amount of SR516 million ($137.6 million), with each share valued at SR40, the company said in a Tadawul filing.
It earlier announced it was selling 12.9 million shares, representing 30 percent of its share capital.
The hire company reported a net profit of SR41.9 million for the first nine months of 2020, an increase of 8 percent on the same period in 2019.

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