The Public Investment Fund (PIF) announced the sale of part of its stake in Umm Al-Qura Development and Construction Company (Masar), through an accelerated bookbuilding process, where 48 million shares representing 3.3% of Masar's share capital were offered. The final offering price was set at SAR 19.8 per share, while the total value of the offering reached more than SAR 950 million (equivalent to more than USD 253 million).

After the sale, PIF's ownership in Masar will reach 234.3 million shares, equivalent to 16.3% of the company's share capital.

The Public Investment Fund's ownership in Masaar after the sale amounts to 234.3 million shares, equivalent to 16.3% of the company's share capital, as the transaction contributes to increasing Masaar's freely traded shares and strengthening its institutional investor base. The offering witnessed demand from local and international institutional investors, with requests exceeding the total size of the offering, which reflects the confidence of investors in Masaar and the attractiveness of the Saudi financial market.

Saad Al-Karoud said. Saad Al-Karoud, Head of the General Department of Local Real Estate Investments at the Public Investment Fund, said that the Public Investment Fund contributes to expanding Masar's investor base by creating opportunities for institutional investors to invest in. The offering is in line with the Fund's investment strategy to enable the reinvestment of capital and returns within its local ecosystem, which contributes to strengthening the role of the private sector and capital markets in the Kingdom, and supports the Fund's continued efforts to drive sustainable development and diversify the local economy.

Saad Al-Karoud, Head of the General Department of Local Real Estate Investments at the Public Investment Fund, said.