The subscription of the Saudi Tadawul Group. Determination of the price range between 95 and 105 riyals per share

Saudi Arabia’s Tadawul Group, the kingdom’s stockbroker, has set a target price range for the initial public offering, indicating it could raise up to 3.78 billion riyals ($ 1.01 billion) from the operation.

Tadawul stated in a note intending to sell 36 million shares in a price range between SAR 95 and SAR 105 per share.

The final price will be determined after creating the order book, which starts on Sunday and ends on November 26th.

The offering of 36 million ordinary shares of the company represents 30% of the issued capital, through the sale of the existing shares by the current shareholder of the company.

The minimum number of shares that can be subscribed for the participating classes is 100,000 shares, while the maximum number is 5.9 million shares.

Participation in the order book building it is 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 initial subscription issued by the Board of the Capital Market Authority.

The offer price will be determined for the public subscription after the completion of the order book construction process, which will be followed by the process of joining the segment of individual subscribers. End of the individual subscription period.

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.

The process of building the order book for the institutions segment begins today, Sunday 21 November 2021 AD, and ends on 26 November 2021 AD.

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