The Saudi Tadawul Group’s offering managers announced today, Sunday, the successful completion of the process of building the order book for the segment of the categories participating in the company’s shares, and setting the final offer price at 105 Saudi riyals per share, with a coverage rate of 121 times of the total shares offered.
This came according to the data of NCB Capital, in its capacity as lead manager, financial advisor, institutional bookrunner, international coordinator and underwriter, JPMorgan Saudi Arabia and Citigroup Saudi Arabia as financial advisors, bookrunners, international coordinators and underwriters in the potential initial public offering of the Saudi Tadawul Group. Holding.
The statement indicated that the process of building the order book has been successfully completed, while the individual subscription phase will start on Tuesday, November 30, 2021 and continue until Thursday, December 2, 2021, when 10.80 million shares will be allocated, representing 30% of the total shares offered for public subscription to individual subscribers as a maximum.
The Saudi Tadawul Group had set an indicative price range for the initial public offering between 95 to 105 riyals per share.
Participation in order book building was limited to categories qualified to participate in the order book building process in accordance with the instructions for book building and allocating shares in initial subscriptions issued by the Board of the Capital Market Authority.
In the event that individual subscribers subscribe to all of the offering shares allocated to them, the subscription registry manager has the right to reduce the number of shares allocated to the participating classes to 25.2 million offering shares – as a minimum – representing 70% of the total offering shares.
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