Saudi Tadawul Group Sets IPO Prices at SR95 to SR105 Per Share

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The Public Investment Fund will own 70 percent of the company’s shares after the final offering
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Riyadh — Saudi Tadawul Group sets a price range for its initial public offering at SR95 to SR105 per share; Saudi Press Agency (SPA) reported on Sunday.

Last Tuesday, the Saudi Tadawul Group announced that the individual subscription; of shares in its initial public offering (IPO) would be raised from10 percent to 30 percent. On Monday, Tadawul announced that institutional subscription would cover 90 percent of shares; while 10 percent of shares are set aside for individual subscription of the IPO.

The plan offers 36 million ordinary shares, equaling 30 percent of the company’s 120 million shares. In addition, as per the new decision; the number of shares offered for individuals will increase from 3.6 million to 10.8 million shares.

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The company’s listing on the Saudi Stock Exchange (Tadawul) will be completed after all the procedures of CMA, the Capital Market Authority; and the Tadawul Group are completed.

The group has received the approval of the Capital Market Authority (CMA) to amend the initial prospectus; and the structure of the offering via a supplementary prospectus.

The Public Investment Fund will own 70 percent of the company’s shares after the final offering, retaining the controlling stake in the company.

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