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Tuesday, May 30, 2023
NewsSaudi 'resources' announce initial offer price at 64 riyals per share

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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