Al-Timyat to Alarabiya: Governmental Initiatives Drived the IPO Decision

Tadawul, the Saudi main stock market, recently announced listing SMASCO shares on Wednesday, June 12, 2024, Dhu Hajjah 6, 1445, monitoring the ascendance of SMASCO share price to the maximum in the first trading session.

And in his interview with Alarabiya in this regard, SMASCO CEO, Mr. Abdullah Al-Timyat, stated that the demand for the company’s services this year is better than last year, both in the sectors for which the company provides manpower and in the overall market. He also stated that the main motivation for SMASCO’s IPO in the first place was government initiatives in the B2B sector and economic mobility in different sectors.

An interview for Mr. Abdullah Al-Temyat with Alarabiya

Mr. Abdullah Al-Timyat also stated that SMASCO’s revenue rates from manpower services in the oil and gas sector are much higher than in other sectors, and they constitute a high proportion of the company’s revenue. SMASCO CEO added that the other sectors we currently expect to grow in Vision 2030, correspondingly to the initiatives currently being implemented, have given us a clearer and more accurate view of the sectors we expect to grow, which we see in sectors such as petrochemicals, oil and gas, healthcare, logistics, construction, entertainment, and the food processing sector. For more updates, follow SMASCO news page on the website. Click here.