Retail subscription to 10.8 mln shares of Saudi Tadawul Group ends today

Logo of Saudi Tadawul Group

Retail subscription for Saudi Tadawul Group Holding Co.’s initial public offering (IPO) ends today, Dec. 2, that began on Nov. 30.

The company offered 36 million shares in IPO, of which 30%, equivalent to 10.8 million shares, were allocated for retail subscription.

Subscription by institutional investors ended last week, and it was 121x oversubscribed. The offering price was set at SAR 105.

The receiving banks for subscription include Saudi National Bank (SNB), Al Rajhi Bank, Arab National Bank (ANB), Alinma Bank, and Riyad Bank.

Saudi Tadawul Group was established as a closed joint-stock company in 2007, with SAR 1.2 billion capital in Riyadh, fully owned by the Public Investment Fund (PIF).

On May 20, it converted into a holding company, named Saudi Tadawul Group, in preparation of going public this year.

The company's principal activities are managing and supporting subsidiaries or participating in the management of other companies in which it owns shares, investing its funds in shares and other securities, owning real estate and other properties in connection with its businesses, granting loans, guarantees and financing to its subsidiaries, and owning and leasing industrial property rights to its subsidiaries or other companies.

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