AMAK sets IPO price range at SAR 58-63/share

23/02/2022 Argaam

Logo of AMAK

Al Masane Al Kobra Mining Co. (AMAK) set the price range for its potential initial public offering (IPO) at SAR 58-63 per share and started today, Feb. 23, the institutional book-building process, according to Al Rajhi Capital, the IPO’s financial advisor, bookrunner, lead manager, and underwriter.  

 

The book-building process will end on March 1 at 12 pm, Al Rajhi Capital said in a statement to Tadawul.

 

The company will float 19.8 million shares, representing 30% of capital. AMAK’s current shareholders will sell 10.13 million shares, and issue 9.67 million new shares.

 

Only qualified participating entities will participate in the book-building process, according to the instructions, issued by the Capital Market Authority (CMA),

about book-building and allocation of shares.

 

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