By Asel bin Taleb
Riyadh – Mubasher: Saudi Arabia's Bidaya Home Finance is considering an initial public offering on the local bourse, according to the chief executive office.
CEO Mazen Al-Ghunaim, in an exclusive interview with Mubasher, added that his company plans to float part of its capital for public subscription.
He also revealed targeting the control of a competitive share in the kingdom's real estate financing market.
The company is seeking financing sources, either via bank loans or the issuance of bonds, according to the CEO.
Al-Ghunaim also said his company intends to open new branches in Jeddah and Dammam during the second quarter of this year.
Bidaya offers Sharia-compliant home financing solutions to its clients. Established in April, 2015, the company is the first among new companies licensed by the Saudi Arabian Monetary Agency (SAMA).
Translated by Sayed Abdel Rahman
