Fundamental Installation Set for IPO Amidst Red Sea International's Expansion

Deal News | Jun 25, 2025 | Zawya

Saudi Arabian modular housing leader Red Sea International has declared its intention to take its subsidiary, Fundamental Installation for Electric Work Company Limited, public. The subsidiary specializes in mechanical, electrical, and plumbing (MEP) contracting. Red Sea has clarified that it will retain its shares in the subsidiary, implying a primary offering rather than a secondary sale. The timing and details of the Initial Public Offering (IPO), along with listing specifics, will be publicized once the company attains the requisite regulatory approvals. This strategic move reflects Red Sea International's effort to potentially capitalize its MEP operations separately and attain independent growth in the public domain.

Sectors

Construction
Financial Services

Geography

Saudi Arabia – The article is based in Saudi Arabia, as Red Sea International is a Saudi Arabian company planning to float its MEP subsidiary within the region.

Industry

Construction – The article is primarily centered around Red Sea International, which operates in the modular housing and construction sector with a specific focus on mechanical, electrical, and plumbing (MEP) contracting through its subsidiary.
Financial Services – The announcement of the IPO involves financial services, particularly stock markets and regulatory compliance for listing shares, reflecting the industry focus.

Financials

– There is no specific financial information such as deal price or IPO valuation mentioned in the article.

Participants

Name	Role	Type	Description
Red Sea International	Parent Company	Company	A Saudi Arabian company specializing in modular housing and construction, planning to IPO its MEP subsidiary.
Fundamental Installation for Electric Work Company Limited	Target Company/Subsidiary	Company	MEP contractor subsidiary of Red Sea International, planned to be publicly offered via IPO.