Saudi ‘resources’ announce initial offer price at 64 riyals per share

Based on the offering price, the company aims to raise 288 million riyals ($78 million) by offering 30% of its existing shares on the Saudi stock market.

Al-Jazeera Financial Markets, in its capacity as financial advisor, bookrunner, underwriting officer and underwriter for the IPO of “Al-Mawarid” company, said that the individual underwriting phase will take place on Sunday May 28 and will continue until Tuesday May 30.

The institutional segment represents 90% of the 4.5 million shares offered, while the share of individuals reaches 10%, since a maximum of 450,000 ordinary shares have been allocated for individual subscription.

The Saudi market anticipates a wave of strong IPOs in the second quarter, as more than one company offers something other than “Al-Mawarid”, including “Marna” “Jamjoom Pharma” and “First Mills” in the main market, in addition to the company “Tam” in the market “Nomu”. .

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