“Tadawul” subscription … Increase of the individual share to 30% of the shares offered

Saudi group “Tadawul” revealed that the number of offering shares allotted to individual subscribers has increased from 3.6 million shares to 10.8 million shares by the initial public offering, with the shares allotted to this tranche representing 30% of the total offering shares.

The Saudi Tadawul Group obtained the approval of the Capital Market Authority today, November 9, 2021, to modify the initial prospectus and the structure of the offering through a supplementary prospectus.

The company obtained approval from Saudi Tadawul to request a listing of its shares on the main market on September 21, 2021 AD, and also obtained approval from the Capital Market Authority on its request to offer 36 million common shares equal to 30 % of the company’s shares for public subscription on November 3, 2021 AD.

The final offer price will be determined for all subscribers after the book creation period ends.

Saudi Tadawul Group Holding yesterday released a prospectus offering 30% of its 120 million total shares.

The initial public offering process involves the sale of 36 million shares. The Public Investment Fund represents the main shareholder of the company, in how much he owns all the shares issued. The fund will hold 70% of the company’s shares after the offering, and thus will retain the controlling stake in the company.

The subscription proceeds will be distributed net of the subscription costs, estimated in 80 million riyals, to the selling shareholder and the company will not receive any portion of the subscription proceeds.

The minimum number of shares that can be subscribed for each category of entities is 100,000 shares.

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