Riyadh – Mubasher: Advanced Building Industries Company (SENAAT) announced that one of its subsidiaries, Gulf Insulation Group, has submitted requests to the Capital Market Authority (CMA) as well as the Saudi Exchange (Tadawul).

Gulf Insulation intends to register its shares and offer a portion of such shares for public subscription upon its application to the CMA, according to a bourse disclosure.

The subsidiary also submitted an application to Tadawul to list its shares on the Main Market.

Submitting the applications to the Saudi financial regulators reflects a significant step in the parent company's (SENAAT) strategic development.

The transition from a private subsidiary to a publicly traded entity on the Main Market is a comprehensive process governed by the Capital Market Law and its implementing regulations. The Main Market is the primary trading platform for established companies in Saudi Arabia, characterized by stringent listing requirements, including minimum capital thresholds and specific corporate governance standards.

By targeting the Main Market rather than the Parallel Market (Nomu), Gulf Insulation Group is positioning itself for a broader base of institutional and retail investors.

SENAAT emphasized that the progression of the listing process is subject to the necessary regulatory procedures and requirements, including, without limitation, obtaining the CMA's approval for the registration and offering of the shares and Tadawul's approval for the listing of such shares, as well as completing all relevant requirements, procedures, and approvals relating to the offering.

The parent company noted that any material developments will be announced in due course.

As the parent company, SENAAT stated that it will remain in close coordination with its subsidiary and the relevant authorities throughout the review period. The company has committed to maintaining market transparency by announcing any material developments regarding the application status, offering size, or timeline as they occur.

At this stage, the disclosure serves as a notification of the intent and the formal submission of the application, with specific details regarding the percentage of shares to be offered and the valuation to be determined at a later date.

In the first quarter (Q1) of 2026, the listed entity SENAAT generated net profits worth SAR 31 million and revenue of SAR 1.34 billion.