Riyadh – Mubasher: Consolidated Grünenfelder Saady Holding Company (CGS) has concluded its initial public offering (IPO) following the conclusion of the retail offering, which took place on 26 and 27 November 2025, according to a press release.
Following the completion of the institutional book building process in early November 2025, the retail offering saw 78,824 individual investors subscribe for 4.25 million shares at the IPO price of SAR 10 per share, which represented 14.2% of the offer shares.
The IPO of Consolidated Grünenfelder Saady Holding comprised an offer of 30 million ordinary shares, representing 30% of the company’s issued share capital by way of a sale by the selling shareholders.
Trading commencement date of the company’s shares on the Main Market of the Saudi Exchange (Tadawul) will be announced after completing all of the relevant legal requirements and procedures.
Group CEO of CGS, Peter Faerber, said: “With almost 50 years of innovation, CGS has become a leader in refrigeration and cold chain solutions vital to Saudi Arabia’s progress. As the offering period successfully concludes, with strong demand from institutional investors, and we begin preparations to list in the coming weeks, we remain focused on delivering exceptional products and services to our 3000+ customers and expanding our role in supporting Saudi Vision 2030.”
Faerber noted: “We welcome our new shareholders who join us at an exciting time as we build long-term value and empower national growth. We look forward to providing further updates as we embark on this next chapter."
The company has appointed AlJazira Capital to act as Financial Advisor, Lead Manager, Bookrunner and Underwriter for the IPO, and Arqaam Capital as Joint Bookrunner.
The IPO will enable the company to cement its position as market leader in the refrigeration sector in Saudi Arabia and continue to deliver growth across its other segments.
It is worth noting that Consolidated Grünenfelder Saady Holding is a market leader in cold chain technology providing high quality and innovative cold chain solutions, with a particular focus on advanced refrigeration, refrigerated transport solutions, specialized mobile units and design/manufacturing of complex units in Saudi Arabia.
