Saudi MGC Aims to Raise $799 Million in IPO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 37 minutes ago
0mins
Source: Yahoo Finance
- IPO Scale: Saudi Mutlaq Al-Ghowairi Contracting Co. is seeking to raise up to 3 billion riyals ($799 million) through an initial public offering, marking the Gulf region's first major IPO of 2026 and indicating signs of recovery in capital markets.
- Share Offering: The company’s shareholders are offering 240 million shares, representing a 30% stake, at a price range of 11 to 12.5 riyals per share, which would value MGC at approximately 10 billion riyals ($2.67 billion) at the top end, reflecting market confidence in its infrastructure projects.
- Market Context: This IPO comes as the first large listing since the U.S.-Iran conflict disrupted regional trade and energy markets, yet Saudi Arabia's stock market has outperformed several regional peers, supported by higher oil prices and a diversified export infrastructure.
- Financial Performance: MGC reported a profit of 420 million riyals during the six months ended 2025, with a net profit margin of 28.1%, showcasing strong profitability in its water and transportation infrastructure projects, which further boosts investor confidence.
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Analyst Views on MS
Wall Street analysts forecast MS stock price to fall
14 Analyst Rating
7 Buy
7 Hold
0 Sell
Moderate Buy
Current: 203.790
Low
132.00
Averages
185.00
High
219.00
Current: 203.790
Low
132.00
Averages
185.00
High
219.00
About MS
Morgan Stanley is a global financial services company. The Company is engaged in providing a range of investment banking, securities, wealth management and investment management services. Its segments include Institutional Securities, Wealth Management and Investment Management. Its Institutional Securities segment provides a variety of products and services to corporations, governments, financial institutions and ultra-high net worth clients. Its Wealth Management segment provides an array of financial services and solutions to individual investors and small to medium-sized businesses and institutions. Its Investment Management segment provides a range of investment strategies and products that span geographies, asset classes, and public and private markets to a diverse group of clients across institutional and intermediary channels. Its investment banking services consist of capital raising and financial advisory services, including the underwriting of debt and other products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Saudi MGC Aims to Raise $799 Million in IPO
- IPO Scale: Saudi Mutlaq Al-Ghowairi Contracting Co. is seeking to raise up to 3 billion riyals ($799 million) through an initial public offering, marking the Gulf region's first major IPO of 2026 and indicating signs of recovery in capital markets.
- Share Offering: The company’s shareholders are offering 240 million shares, representing a 30% stake, at a price range of 11 to 12.5 riyals per share, which would value MGC at approximately 10 billion riyals ($2.67 billion) at the top end, reflecting market confidence in its infrastructure projects.
- Market Context: This IPO comes as the first large listing since the U.S.-Iran conflict disrupted regional trade and energy markets, yet Saudi Arabia's stock market has outperformed several regional peers, supported by higher oil prices and a diversified export infrastructure.
- Financial Performance: MGC reported a profit of 420 million riyals during the six months ended 2025, with a net profit margin of 28.1%, showcasing strong profitability in its water and transportation infrastructure projects, which further boosts investor confidence.
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Saudi MGC Aims to Raise $799 Million in IPO
- IPO Scale: Saudi Mutlaq Al-Ghowairi Contracting Co. is seeking to raise up to 3 billion riyals ($799 million) through an initial public offering, marking the Gulf region's first major IPO of 2026 and indicating signs of recovery in capital markets.
- Share Offering: The company’s shareholders are offering 240 million shares, representing a 30% stake, at a price range of 11 to 12.5 riyals per share, which would value MGC at approximately 10 billion riyals ($2.67 billion) at the top end, reflecting market confidence in its infrastructure projects.
- Market Context: This IPO comes as the first large listing since the U.S.-Iran conflict disrupted regional trade and energy markets, yet Saudi Arabia's stock market has outperformed several regional peers, supported by higher oil prices and a diversified export infrastructure.
- Financial Performance: MGC reported a profit of 420 million riyals during the six months ended 2025, with a net profit margin of 28.1%, showcasing strong profitability in its water and transportation infrastructure projects, which further boosts investor confidence.
See More
Is It Time to Reload Your Underinvested Portfolio?
- Shopify Stock Fluctuations: Shopify's stock has dropped 40% since last October, currently valued at $154 billion; despite pressures from slowing sales growth and rising interest rates, its Q1 revenue growth rate of 34% highlights its significance in the future of e-commerce.
- Nice's Customer Service Technology: Nice Ltd, with a market cap of $5.4 billion, derives only 14% of its cloud revenue from AI, yet its Q1 recurring revenue grew 66% year-over-year, showcasing its strong performance and growth potential in the customer service market.
- Viking Therapeutics' Drug Development: Viking Therapeutics is conducting phase 3 trials for its GLP-1 weight-loss drug VK2735, currently valued at $3.8 billion; analysts unanimously rate its stock as a strong buy with a target price of $95.40, reflecting confidence in its market potential.
- Investor Focus on Emerging Stocks: Despite overall market volatility, investor interest in Shopify, Nice, and Viking indicates optimism towards these growth stocks, particularly in the long-term growth prospects within the e-commerce and health sectors.
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Analysis of Shopify's Stock Price Decline
- Shopify's Stock Decline: Shopify's shares have fallen 40% since October, driven by slowing sales growth, rising interest rates, and potential threats from AI, although these concerns may be overstated.
- Nice Ltd's Customer Service Edge: Nice Ltd's platform facilitates over 20 billion interactions annually, and while AI accounts for only 14% of its cloud revenue, its annualized revenue has reached $345 million, indicating strong growth potential.
- Viking Therapeutics' Market Potential: Viking Therapeutics' VK2735 is in phase 3 trials and could disrupt the $200 billion obesity drug market, with analysts setting a target price of $95.40, representing a 200% upside from current levels.
- Cautious Investor Sentiment: Despite stocks remaining above late-March lows, many investors are on the sidelines due to concerns about a market pullback, particularly in the current economic climate, which challenges confidence in reinvesting.
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OpenAI Set to File Confidential IPO Soon
- IPO Filing Expected: OpenAI is reportedly set to file a confidential IPO within weeks, with the listing anticipated to be one of the most closely watched tech offerings, potentially targeting September, indicating the company's strategic growth in the AI sector.
- Intensifying Competition: This IPO would position OpenAI ahead of rival Anthropic PBC, which is also planning a public offering later this year or early next, highlighting the intensifying competition in the AI market.
- Valuation Comparison: OpenAI's current valuation stands at $852 billion, while Anthropic recently raised $65 billion, achieving a valuation of $965 billion, surpassing OpenAI, reflecting rapid changes and investor interest in the AI industry.
- Underwriter Negotiations: OpenAI is in talks with banks including Citigroup and JPMorgan, which may join Goldman Sachs and Morgan Stanley in supporting the upcoming IPO, further solidifying its market position and potential for a successful public offering.
See More
Morgan Stanley Discloses Major Crypto Holdings in SEC Filing
- Increased Crypto Holdings: Morgan Stanley disclosed significant holdings in Bitcoin, Solana, and XRP in its Q1 2026 SEC 13F filing, reflecting its ongoing interest and confidence in the crypto market.
- Institutional Investment Surge: The filing indicates that Morgan Stanley has substantially increased its institutional exposure to cryptocurrencies through regulated exchange-traded products, signaling an accelerated strategic positioning in the digital asset space.
- Bitcoin ETF Investments: The firm invested over $861 million across various Bitcoin ETFs, particularly in the iShares Bitcoin Trust ETF and Fidelity Wise Origin Bitcoin Fund, demonstrating a strong bullish outlook on Bitcoin.
- Clear Competitive Strategy: Morgan Stanley has filed with the SEC to launch a low-fee spot Bitcoin ETF, aiming to compete aggressively with industry giants like BlackRock and Grayscale, thereby reinforcing its leadership in cryptocurrency investments.
See More
Dell Shares Surge 32% After Record Revenue Growth in Q1 Earnings
- Significant Revenue Growth: Dell's Q1 revenue soared nearly 88% year-over-year to a record $16.1 billion, primarily driven by a surge in artificial intelligence-related demand, showcasing the company's strong performance in a rapidly growing market.
- Surge in AI Server Demand: Dell's AI server revenue skyrocketed 757% year-over-year, indicating the company's increasing competitiveness in high-performance computing and further solidifying its market position.
- Earnings Exceed Expectations: Adjusted earnings per share came in at $4.86, significantly surpassing market expectations of $2.94, reflecting the company's success in cost control and operational efficiency, thereby boosting investor confidence.
- Positive Analyst Reactions: Morgan Stanley analysts noted that Dell's earnings report exceeded expectations, describing it as one of the most impressive quarters they have seen in their coverage of hardware, indicating optimistic market sentiment regarding Dell's future growth.
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