AMANAT HOLDINGS PJSC

Amanat Holdings' subsidiary, Almasar Alshamil Education, has successfully begun trading on the Saudi Exchange after completing its initial public offering (IPO). The IPO involved listing 30% of its share capital and was met with strong investor demand, achieving an oversubscription rate of 103 times with an institutional order book of approximately SAR 62 billion. The shares were priced at the top of the announced range, raising around SAR 599 million. At the time of listing, Almasar Alshamil Education had a market capitalization of SAR 1,997 million, with Amanat remaining the majority shareholder. This listing follows Amanat's successful divestment of North London Collegiate School's real estate assets, which generated AED 453 million, marking a 1.7x cash-on-cash return. Amanat has raised over AED 1 billion in 2025 through various monetization efforts, contributing to a total of over AED 2.1 billion in proceeds. The IPO aligns with Amanat’s strategy of investing in leading businesses in the healthcare and education sectors to drive growth and shareholder value. Amanat reported a 15% increase in revenue and a 49% rise in EBITDA from continuing operations in the first nine months of 2025. The company's board will evaluate and recommend a capital allocation plan for the proceeds from the real estate sale and IPO.

Amanat Holdings PJSC announced a partial disposal of a 30% stake in its subsidiary, Almasar Alshamil Education Company, through an Initial Public Offering (IPO) on the Saudi Stock Exchange (Tadawul) on December 2, 2025. The book value of the disposed assets was AED 364 million, representing 14.6% of the company's capital, with the transaction yielding gross proceeds of SAR 599 million (AED 592 million). The sale aligns with the company's strategic goal to invest, grow, and monetize to create value for shareholders. The shares were allocated to public shareholders, and no related parties are involved in the transaction.

Amanat Holdings PJSC reported a 15% increase in revenue from continuing operations in the first nine months of 2025, reaching AED 622.1 million. This growth was driven by a 24% increase in revenue from its Education sector and a 6% increase in Healthcare. EBITDA rose by 49% to AED 260.9 million, largely due to the divestment of NLCS real estate. Profit from continuing operations increased by 73% to AED 164.7 million. The company saw a 22% rise in student and beneficiary numbers and increased its bed capacity to 715. Amanat successfully divested NLCS real estate, realizing AED 453 million in cash proceeds. The Education business, Almasar Alshamil Education, announced its IPO plans, with significant oversubscription, projecting a market capitalization of SAR 1,997 million. Amanat held AED 568.0 million in cash at the end of the period and plans to evaluate a capital allocation strategy. Education saw a 22% increase in students and beneficiaries, and Healthcare expanded its total capacity to 715 beds, with significant revenue and EBITDA growth.

Amanat Holdings PJSC has released its unaudited interim condensed consolidated financial statements for the period ending on September 30, 2025.

On 2 November 2025, Hamed Ahmed Ali, CEO of the Dubai Financial Market, announced the successful completion of the institutional book-building process for the IPO of 30% of Amanat Holdings PJSC's wholly-owned indirect subsidiary, Almasar Alshamil Education Company, on the Tadawul. The IPO was oversubscribed by 102.9 times. The final offer price was set at SAR 19.5 per share, leading to a total offering size of SAR 599 million and a market capitalization of SAR 1,997 million at listing. The offering period for individual subscribers is scheduled from 18 to 20 November 2025. All net proceeds from the offering will be paid to the selling shareholder and ultimately to the company. Further details can be found at https://masareducation.com/IPO.

On November 3, 2025, Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market, announced the IPO price range for Amanat Holdings PJSC's subsidiary, Almasar Alshamil Education Company. The company plans to float 30% of its shares on the Saudi stock market, Tadawul, with a price range set between SAR 18.5 and SAR 19.5 per share. This implies a potential offering size between SAR 568 million and SAR 599 million, and a market capitalization at listing between SAR 1,894 million and SAR 1,997 million. The net proceeds from the offering will go to the selling shareholder and ultimately to the company. The IPO is a significant step in Amanat Holdings' strategy to invest, unlock value, and accelerate growth, focusing on generating shareholder value through monetizing mature assets and reinvesting in growth opportunities in education and healthcare. This follows the successful divestment of North London Collegiate School's real estate assets in August 2025, which generated AED 453 million. The Board of Directors plans to evaluate and recommend a capital allocation plan for the IPO and real estate proceeds, balancing cash returns to shareholders with reinvestment into opportunities that support the company's mission of creating long-term, sustainable value.

Amanat Holdings PJSC, through its wholly-owned subsidiary Almasar Alshamil Education Company in Saudi Arabia, announced plans for an initial public offering (IPO) of Almasar on the Tadawul Exchange. Initially disclosed on July 17, 2024, the plan to list the Amanat Education platform was contingent upon regulatory approval and market conditions. On September 29, 2025, Almasar received approval from the Saudi Capital Market Authority to list 30% of its shares on the exchange. Subsequently, on October 26, 2025, Almasar confirmed its intention to proceed with the IPO by selling 30,720,400 ordinary shares, representing 30% of its total shares, and registering all of the company’s shares on the Tadawul Exchange. Further details can be found on their website.

On 17 October 2025, Amanat Holdings PJSC issued a Board of Directors Resolution by circulation, approving the renewal of a related party transaction with Al Ramz Capital. This renewal, which maintains the same terms as those disclosed on 17 July 2024, involves the provision of liquidity provider services and is valid until 18 October 2026, with an option for automatic renewal. The resolution also covers other ordinary business matters. The notification was addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, with a copy sent to the Securities and Commodities Authority.