Saudi IT Firm to Press Ahead with IPO Despite War Uncertainty

Saudi Arabian information technology services firm Dar Al Balad Business Solutions Co. is pressing ahead with plans to list on the kingdom’s stock exchange despite the disruptions caused by the regional conflict.

A shareholder of the firm plans to offer 21 million shares, representing a 30% stake, according to a statement Tuesday. The institutional book-building will run between Apr. 26 and Apr. 30, with AlJazira Capital and Emirates NBD arranging the offering.