Key facts
- Mutlaq Al-Ghowairi Contracting Co. has postponed its initial public offering.
- The IPO was expected to raise $799 million.
- Concerns over the Iran war's impact on regional capital markets contributed to the decision.
Saudi Arabia's Mutlaq Al-Ghowairi Contracting Co. has postponed its planned initial public offering, a move that deals another blow to regional capital markets. The company cited concerns over the impact of the ongoing Iran war as a contributing factor to its decision to delay the IPO, which was expected to raise $799 million.
The postponement highlights the growing geopolitical risks affecting investment activity in the Middle East, as tensions in the region continue to impact investor sentiment and market stability.