Saudi Leather Industries Plans IPO with Yaqeen Capital as Lead Manager

SLIC Moves Toward Public Listing

Saudi Leather Industries Company (SLIC), a leading manufacturer of industrial safety and military footwear, is preparing to go public on the Saudi Exchange (Tadawul). The company has selected Yaqeen Capital as its lead manager for the initial public offering (IPO). This decision, announced on March 11, 2025, is a key step in SLIC’s plan to expand its market reach and strengthen its financial position.

A Legacy of Quality and Growth

Founded in 1981 and headquartered in Riyadh, SLIC has built a strong reputation in the leather industry. The company supplies high-quality safety boots, military footwear, and other leather products to industries such as construction, oil and gas, and defense. By going public, SLIC aims to secure additional funding, increase production, and introduce new products to meet growing demand.

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Yaqeen Capital’s Role in the IPO

Yaqeen Capital, formerly known as FALCOM Financial Services, is guiding SLIC through the IPO process. The Riyadh-based financial firm specializes in asset management, brokerage, and investment banking. Its expertise in handling IPOs and regulatory approvals will ensure a smooth listing process. The IPO will proceed in several stages, starting from regulatory approvals to the final listing on Tadawul.

Saudi Arabia’s Booming IPO Market

SLIC’s IPO aligns with a surge in stock market activity in Saudi Arabia. Al Rajhi Capital, a leading financial firm, predicts a 6% increase in the Saudi stock market index (TASI) in 2025. This growth reflects the Kingdom’s ongoing economic diversification, creating more opportunities for businesses to access public funding.

More IPOs Mean More Opportunities

The rising number of IPOs is expected to improve market liquidity and provide more investment choices. SLIC’s decision to go public shows confidence in Saudi Arabia’s economy and its supportive business environment.

A New Chapter for SLIC

As SLIC transitions to a publicly traded company, its partnership with Yaqeen Capital will ensure a smooth process. This move not only strengthens SLIC’s future but also contributes to the overall growth of Saudi Arabia’s capital markets.

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