Saudi Leather Industries Taps Yaqeen Capital for IPO

Deal News | Mar 12, 2025 | Zawya

Saudi Leather Industries Company (SLIC) has appointed Yaqeen Capital to manage their initial public offering (IPO) on the Tadawul, the Saudi stock exchange. The listing is expected to significantly contribute to Yaqeen Capital's total revenue for the year 2024, exceeding 5% when compared to their last audited financial statements. Industry forecasts suggest continued investor optimism and favorable regulatory environments will support a strong IPO climate in Saudi Arabia, with predictions by Al Rajhi Capital of 50 to 60 IPOs within the next two years.

Sectors

Finance
Manufacturing

Geography

Saudi Arabia – The companies involved, Saudi Leather Industries and Yaqeen Capital, are based in Saudi Arabia, and the IPO will take place on the Saudi stock exchange, Tadawul.

Industry

Finance – The involvement of Yaqeen Capital in the IPO process classifies this as a financial industry event.
Manufacturing – Saudi Leather Industries operates in the manufacturing sector, specifically related to leather products.

Financials

5% – The IPO is expected to contribute significantly to Yaqeen Capital's total revenue, exceeding 5% compared to their last audited financial statements for 2024.
50 to 60 IPOs – Al Rajhi Capital's estimate for the number of IPOs expected in Saudi Arabia over the next two years.
97 IPOs – The number of IPOs currently under review in Saudi Arabia as per Al Rajhi Capital.

Participants

Name	Role	Type	Description
Saudi Leather Industries Company (SLIC)	Target	Company	A manufacturing company preparing for an IPO on the Tadawul stock exchange.
Yaqeen Capital	Lead Manager	Company	A Riyadh-based financial institution leading the IPO for Saudi Leather Industries.
Tadawul	Stock Exchange	Company	The Saudi stock exchange where the IPO will be listed.
Al Rajhi Capital	Industry Analyst	Company	A Saudi brokerage providing outlook and estimates on IPO market activity.