Wed Apr 20, 2022 15:39:53

Saudi Exchange Celebrates the Listing of Saudi Home Loans Company on Saudi Exchange’s Main Market

Riyadh, 20 April 2022: The Saudi Exchange today celebrated the listing of Saudi Home Loans Company (SHL), one of the leading Islamic real estate finance firms in the Kingdom, as it lists on the Saudi Exchange’s Main Market. The listing ceremony was attended by Mr. Mohammed Al Rumaih, CEO of Saudi Exchange and Mr. Yousef Al Shelash, Chairman of SHL, alongside leading board members.

Mohammed Al Rumaih, CEO of the Saudi Exchange said, “The addition of Saudi Home Loans Company to the Saudi Exchange re-enforces our commitment to supporting Islamic finance companies in the Kingdom. We believe the addition of the company to the Exchange will increase the breadth and depth of the variety we are able to offer to local and international investors, and the Saudi Exchange is the perfect catalyst for their future growth. We’re very excited to see where the listing takes Saudi Home Loans Co. and wish them all the very best in their future growth.”

“Our listing on the Saudi Exchange is a momentous time in our company’s history. We look forward to welcoming investors from Saudi Arabia and beyond to be a part of our next chapter. Saudi Home Loans Company is committed to supporting the home ownership dreams of Saudi citizens and we hope our listing on the Saudi Exchange, one of the largest emerging markets, will support our growth plan and vision for the future, in line with the Kingdom’s Vision 2030”, said Yousef Al Shelash, Chairman of SHL.

SHL is one of the pioneers in the Islamic real estate financing field. The Company floated 30 million shares, representing 30% of its share capital of SAR 1,000,000,000 with the offer price set at SAR 20 per share The IPO order book was 50 times oversubscribed by institutional investors, and 26 times oversubscribed in the retail tranche, with the final offer price set at SAR 20 per share, implying a market capitalization of SAR 20,000,000,000 at listing.

SHL was established in 2007 in Saudi Arabia. It provides Shari’ah compliant financing to support the essential housing needs of customers in the Saudi market. SHL caters to the needs of all client profiles in Saudi Arabia and facilitates their home ownership through the latest technologies.