Sustainable Water Solutions Leader Miahona Set for Public Listing

Miahona Company, a leading developer and operator of sustainable water and wastewater solutions, made a significant announcement on Wednesday (April 24) regarding its plans to go public.

The company revealed its intention to initiate an Initial Public Offering (IPO) and list on the Saudi Tadawul Exchange.

In accordance with this decision, Miahona aims to offer 30% of its issued share capital to the public.

This will be achieved by putting up for sale 48,277,663 ordinary shares currently held by Vision Invest, a prominent Saudi investment holding company with a focus on Public-Private Partnership (PPP) investments.

These details were disclosed by Miahona in a regulatory filing.

The determination of the final offer price will be carried out through a book-building process scheduled to take place from April 28 to May 2.

Following this, retail investors will have the opportunity to bid for the offering between May 21 and May 22, extending the opportunity for public participation.

Saudi Fransi Capital has been appointed as the lead manager and joint financial adviser for the IPO.

Additionally, they will serve as a joint bookrunner and co-underwriter alongside EFG Hermes Saudi Arabia (KSA).

These entities will play crucial roles in facilitating the successful execution of Miahona's IPO.

Miahona holds a significant position as one of the pioneering developers of water and wastewater infrastructure in Saudi Arabia, operating under the PPP model.

This strategic move towards going public not only marks a milestone for the company but also underscores its commitment to furthering sustainable solutions within the kingdom's infrastructure landscape.

Source: Brinda Darasha / Zawya