BinDawood Holding set the price range for its upcoming initial public offering (IPO) between SAR 84 and SAR 96 per share, Goldman Sachs Saudi Arabia and JP Morgan Saudi Arabia, the IPO’s financial advisors, said.

 

The book building process for institutional investors, which starts today will run until Sept. 22.

 

A total of 22.86 million shares or 100% of the offering size will be allocated to institutional investors, subject to a scale-back to 90% or 20.57 million shares.

 

Meanwhile, up to 10% of the offering size or 2.286 million shares will be allocated to this tranche.

 

The retail offering will open from Sept. 27-29.

 

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