Fawaz Alhokair Group CEO: We are happy with pricing of IPO | Squawk Box Europe
Omar Al Mohammedy, the CEO of Fawaz Alhokair Group, speaks about the company's IPO, demand for Saudi Arabian assets and the country's Vision 2030 program.
Chairman, Fawaz Alhokair
Search every verified Fawaz Alhokair interview, podcast appearance, and on-the-record quote โ each transcript cross-checked by AI and human review to confirm speaker identity. In a May 2019 interview, Fawaz Alhokair Group CEO Omar Al Mohammedy discussed the company's IPO, stating that the group was "happy with the pricing" and that the transaction was "the largest Saudi IPO since 2014." He described the price range as "reasonable for both us as issuers and for investors" and noted that the IPO "garnered significant demand from a mix of investors locally, regionally and internationally." Al Mohammedy also commented on Saudi Arabia's Vision 2030 program, calling it "a tremendous opportunity" and pointing to what he described as a young, growing consumer base and an under-supplied organized retail market. He cited the launch of 15 cinemas across the group's existing assets as an example of how policy objectives related to entertainment directly benefit the business. When asked about regional geopolitical tensions, Al Mohammedy said the group manages its business "for the long-term" and expressed "big faith in the Saudi economy" and government planning, adding that the Saudi economy and consumer "did well throughout all of these tensions" historically.
“We are happy with the pricing โ the transaction had many firsts and this is the largest Saudi IPO since 2014. We wanted to go out with a price range that is reasonable for both us as issuers and for investors.”
“The IPO garnered significant demand from a mix of investors locally, regionally and internationally โ overall we're very happy with the outcome.”
“If you look at the recent Saudi Aramco bond offering, it really shows there is a big appetite around the world for assets in Saudi Arabia.”
“The mix of investors was 57% on the institutional side โ public funds, private funds and discretionary portfolios โ about 26% from government institutions, corporates and financial institutions domestically, and roughly 17% from investors outside the region.”
Omar Al Mohammedy, the CEO of Fawaz Alhokair Group, speaks about the company's IPO, demand for Saudi Arabian assets and the country's Vision 2030 program.
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