GIB Capital, in as a financial advisor, lead managercorporate underwriter e lead underwriter for the potential initial public offering of Abdullah Al Othaim Investment Company “Al Othaim”, announced the company’s intention to offer part of its shares to the initial public offering and to list its common shares in the main market of Saudi Tadawul “, where the offer is expected to include the sale of 30% of the company’s shares.
Al-Othaim had obtained the approval of the Saudi Tadawul Group to request the listing of its shares on the main market on December 5, 2021, and had obtained the approval of the Capital Market Authority on its request to offer 30 million common shares representing 30% of the company’s shares in public subscription on March 16, 2022.
The final offer price will be determined for all subscribers after the book creation period ends.
The number of shares that will be assigned to the categories participating in the book process building is 30 million shares, equal to 100% of the total number of shares offered, and the final allotment will take place after the subscription period of the individual.
The financial promoter has the right, in in the event of a sufficient request from individual subscribers, to reduce the number of shares offered assigned to participants to 27 million shares, equal to 90% of the total shares offered.
Individual subscribers will be assigned a maximum of 3 million shares, equal to 10% of the total amount offered.
It appointed the Saudi National Bank, Riyadh, the Saudi British bank “SABB”, Saudi Fransi and MIM-Gulf International Bank, as well as Alinma Bank as recipients, and appointed Alinma Investment Company as co-insurer.
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