Saudi Tadawul IPO .. Institutional coverage 121 times and final share price 105 riyals

Offer managers of the Saudi Tadawul Group announced today, Sunday, the successful completion of the order book construction process for the share class segment of the company and the setting of the final offer price at 105 Saudi riyals per share. , with an installment coverage equal to 121 times the total number of shares offered.

This happened according to data from NCB Capital, in quality of lead manager, financial advisor, institutional bookrunner, international coordinator and underwriter, JPMorgan Saudi Arabia and Citigroup Saudi Arabia in as financial advisors, bookrunners, international coordinators and underwriters in the potential initial public offering of the Saudi Tadawul Holding group.

The press release indicates that the order book construction process has been successfully completed, while the individual subscription phase will begin on Tuesday 30 November 2021 and will continue until Thursday 2 December 2021, when 10.80 million shares will be allocated, equal to 30 % of the total number of shares offered in public subscription to individual subscribers at most.

The Saudi group Tadawul had set an indicative price range for the initial public offering between 95 and 105 riyals per share.

Participation in the order book building was limited to the categories authorized to participate in the order book process building according to the instructions in book building and allotment of shares in first subscription issued by the Board of the Capital Market Authority.

In case in to which the individual subscribers subscribe all the shares offered assigned to them, the manager of the subscription register has the right to reduce the number of shares assigned to the participating classes to 25.2 million shares offered – at least – representing 70% of the shares of total offer.

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