KSC wins SR430 million road deals, paper reports

Saudi contractor snaps up numerous mandates ahead of 30% IPO

KSC will be a listed company by the end of the year.
KSC will be a listed company by the end of the year.

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Abdullah Al Khodari and Sons (KSC), the Saudi contractor looking to float part of its company, has won a number of contracts worth a combined SR430 million to build roads in different parts of the country, according to a director.

Abdulaziz al Khodari, head of the company’s roads and railways division, made the announcement to regional newspaper al Watan.

KSC is one of the largest construction companies in Saudi Arabia with a focus on the Eastern province, whose of operation involve civil, industrial and commercial buildings. On 30th June it notified the Saudi stock exchange, the Tadawul, that it would issue 12.75 million shares, equivalent to 30% of the company.

The offer will run from 4th October to 10th October later this year.
 

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