PIF announces sale of 48 million shares in Umm Al Qura for Development and Construction Company (MASAR)

• PIF sells 48 million of its shares in MASAR, representing 3.3% of company’s share capital
• Share sale through an accelerated bookbuild offering generates more than SAR 950 million
• Offering supports PIF’s long-term strategy to unlock capital for domestic reinvestment and further broadens MASAR investor base

PIF today announced the completion of the sale of part of its stake in Umm Al Qura for Development and Construction Company (MASAR), through an accelerated bookbuild offering.

The offering comprised 48 million shares, representing 3.3% of MASAR’s share capital. The total value of the offering was more than SAR 950 million (more than $253 million), with a final offer price of SAR 19.8 per share.

Both local and international institutional investors participated in the offering. The offering was oversubscribed, reflecting investors’ confidence in MASAR and the attractiveness of the Saudi capital market.

PIF’s remaining stake equates to 234.3 million shares in the company, representing 16.3% of MASAR’s share capital. The offering contributes to increasing MASAR’s free float and further broadens its institutional investor base.

Saad Alkroud, Head of the Local Real Estate Investment Division at PIF, said: “By creating opportunities for institutions to invest in MASAR, PIF is further broadening the company’s investor base. The offering aligns with PIF’s investment strategy, which focuses on deploying capital and income into the domestic PIF ecosystem, to further strengthen Saudi Arabia’s private sector and deepen Saudi capital markets. This mandate allows PIF to continue to drive the sustainable development and diversification of the country’s economy.”

PIF is one of the world’s most impactful investors, enabling the creation of key sectors and opportunities that help shape the global economy, deliver returns, and drive the economic transformation of Saudi Arabia.