Here’s a look at receiving banks list for Al Arabia IPO

Logo of Arabian Contracting Services Co. (Al Arabia)

Retail investors start, today, Oct. 26, subscription to 1.5 million shares of Arabian Contracting Services Company (Al Arabia), at SAR 100 a share.

The price was determined through book-building process.

Al Arabia plans to sell 15 million shares, or 30%, of its SAR 50 million share capital.

The list of the receiving banks for the IPO includes Riyad Bank, Saudi National Bank (SNB), Saudi British Bank (SABB) and Bank Albilad.

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