EFSIM Facilities Management Company has abruptly halted its plans to go public on the Saudi Exchange, stepping away from the spotlight just days after opening its book-building period.
The decision comes after consultations with financial advisor EFG Hermes KSA, though the company offered no explanation for the sudden retreat.
“The company remains focused on its growth trajectory and strategic objectives,” the advisor noted in a Tadawul filing, adding that EFSIM would continue exploring expansion avenues and could revisit an IPO down the line.
EFSIM had initially aimed to sell 16.8 million shares, representing a 30% stake post-offering, with pricing set between SAR 19 and SAR 20 per share. The withdrawal marks a swift exit from a process that began on December 1.
The move leaves investors and market watchers speculating on the timing and future direction of the company’s capital plans.
