Al-Qahtani Auctions appoints “Musharaka Finance” as a financial advisor to offer its shares in the parallel market

Saud Hazam Al-Qahtani Auctions Company has announced the appointment of Musharaka Financial Company as its financial advisor for the offering and listing of its shares on the Nomu Parallel Market.

Musharaka Financial Company stated that it will reach out to qualified investors interested in investing in the company’s shares once it secures the necessary regulatory approvals to proceed with its Nomu listing, in accordance with the Capital Market Authority’s rules and regulations.

Al-Qahtani Group was established in 1970, specializing in the purchase and sale of equipment, trucks, vehicles, and all types of movable assets. In 1988, it expanded by launching equipment and vehicle showrooms, along with support services. In 2010, Saud Al-Qahtani Auctions was founded, becoming one of the largest auction companies in the Middle East in terms of geographical reach. The company specializes in organizing and managing public and international auctions for various assets, including machinery, equipment, trucks, vehicles, hotels, industrial plants, transport equipment, generators, special equipment, scrap materials, and more.

The company began operations in Dammam (Eastern Province) and, in 2012, expanded its auctions to Central and Western Saudi Arabia, following a strategic growth plan aimed at achieving its financial and business objectives. In 2014, the Board of Directors approved a restructuring plan to enhance the company’s administrative framework and recruit skilled personnel.

This expansion led to the opening of the first branch in Yanbu in 2016, followed by another branch in Jeddah later the same year. These developments had a positive impact on the company’s financial performance, with the last two years recording stronger financial results than previous years.