NCB Capital, in as financial advisor, bookrunner, lead manager and underwriter in the potential public offering of East Integrated Pipes Company for Industry, announces the determination of the price range of the offer and the start of the book process building for the segment of participating classes.
The price range for the shares offered has been set between 72 and 80 riyals per share, according to a statement from the Saudi market company Tadawul today, Tuesday.
The offer process consists in the offer of n. 6,300,000 ordinary shares of the company, representing 30% of the issued capital of the company, through the sale of the existing shares to the current shareholders of the company.
The minimum number of shares that can be subscribed for the participating classes is one hundred thousand shares, while the maximum is one million forty-nine thousand nine hundred and ninety-nine (1,049,999) shares.
Participation in the book building it is limited to the categories authorized to participate in the order book process in compliance with the instructions for the creation of the book and the assignment of shares in the initial subscriptions issued by the Board of the Authority for the capital markets
The offer price will be determined for the public subscription at the end of the order book construction process, which will be followed by the process of joining the segment of individual subscribers. The definitive assignment will take place after the end of the individual subscription period.
In case in to which the individual subscribers subscribe all the offer shares assigned to them, the subscription register manager has the right to reduce the number of shares assigned to the participating classes to five million six hundred and seventy thousand (5,670,000) offering shares – by way of a minimum – which represents 90% of the total number of shares offered.
The order book construction process period for the institutions segment starts on January 11, 2022 and ends on January 17, 2022.
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