Saudi IT services provider Dar Albalad for Business Solutions Company is set to launch the first initial public offering in the GCC since the start of the Iran war, signaling a potential return of activity to the region’s capital markets. The company plans to list on the Saudi Exchange, breaking a quiet period that saw new listings drop to an eight-year low in the first quarter of 2026.
Quick Facts
- First GCC IPO since start of Iran war.
- Floating 21 million shares on the Saudi Exchange.
- Driven by increased IT demand from Vision 2030.
Riding the Vision 2030 Wave
Dar Albalad aims to float 21 million shares, representing 30% of its total share capital. The move is timed to capitalize on a surge in demand for IT services within the Kingdom, largely fueled by the massive development projects under the Vision 2030 economic diversification plan.
In a statement, Dar Albalad’s chairman, Abdullah Al-Juraish, noted that the increased demand “is an opportunity for us to move towards strengthening our business model.”
He added that the company plans to diversify its offerings “to include advanced technologies in the field of cybersecurity and others driven by artificial intelligence and business solutions.” The IPO also aligns with the company’s recent expansion into Bahrain and Qatar.
A Cautious Return for Saudi Capital Markets
Dar Albalad’s public offering is a notable development in a market that has been slow this year. The first quarter of 2026 saw only one new listing: quarrying firm Saleh Abdulaziz Al Rashed & Sons, which raised $67 million. This contrasts with the $3.9 billion raised from IPOs on the main market in 2025.
Other companies are also testing the waters. The Capital Markets Authority (CMA) has approved bottled water brand Berain Company to float 66 million shares. Berain, which has until October to pursue its IPO, is co-owned by Hassana Investment Company and Rajhi Invest.
Two other firms, Mutlaq Al-Ghowairi Contracting Company and AlDyar AlArabiya Real Estate Development Company, also hold CMA approval and have until the end of June to move forward with their listings.
About Dar Albalad for Business Solutions
Dar Albalad for Business Solutions Company is a Saudi-based information technology firm that provides a range of IT services to both private and public sector clients. The company is currently expanding its service portfolio to include advanced cybersecurity and AI-driven business solutions while also growing its presence across the GCC.
Source: AGBI
