Saudi Tadawul Group institutional offering 121x covered, offer price set at SAR 105/share

Logo of Saudi Tadawul Group

Saudi Tadawul Group Holding Co. set the final offer price at SAR 105 per share, SNB Capital, the lead manager, financial advisor, book-runner, global coordinator and underwriter; and JP Morgan Saudi Arabia and Citigroup Saudi Arabia, the financial advisors, book-runners, global coordinators and underwriters on the group's initial public offering (IPO) announced.  

 The market capitalization of the Riyadh-based exchange stands at SAR 12.6 billion as on the listing date, based on the offer price at SAR 105 per share. 

The institutional book-building process was 121x oversubscribed, raising SAR 458 million. 

The retail offering will begin on Nov. 30 until Thursday, Dec. 1, Argaam earlier reported.

Earlier this month, Saudi Tadawul Group raised the maximum number of the shares allocated to retail subscribers in its planned initial public offering (IPO) to 10.80 million shares, or 30% of the total offer shares, according to its supplementary prospectus issued today, Nov. 9.  

For More IPOs