Mutlaq Al-Ghowairi Delays Gulf’s Biggest 2026 IPO as Iran War Hits Saudi Market
Updated
Updated · Bloomberg · Jun 11
Mutlaq Al-Ghowairi Delays Gulf’s Biggest 2026 IPO as Iran War Hits Saudi Market
3 articles · Updated · Bloomberg · Jun 11
Summary
Mutlaq Al-Ghowairi Contracting Co. postponed its initial public offering, shelving what would have been the Gulf region’s biggest listing this year.
The company delayed the share sale because of the war in Iran, adding fresh uncertainty to Saudi Arabia’s capital markets.
Tadawul’s benchmark all-share index has risen about 5% this year, but that still leaves the Saudi market trailing global peers for a fourth straight year.
The delay marks another setback for a market that has failed to fully capitalize on higher oil prices and had been counting on large listings to revive momentum.