Elm book-building process starts today, price range set at SAR 113-128/share

Logo of Elm Co.

Riyad Capital, as the financial advisor, lead manager, underwriter and bookrunner on the initial public offering (IPO) of Elm Co., announced that the price range was set between SAR 113-128 per share.

The book-building process for institutional investors began today, Jan. 23 and will end at 3 pm on Jan. 28.

Elm will float 24 million shares, or 30% of its SAR 800 million capital.

The minimum number of shares to which participating categories can subscribe is 100,000, while the maximum number is 3.99 million.

Participation in the book-building is limited to the qualified categories in accordance with the book-building and share allocation instructions of the Capital Market Authority (CMA).

The final offer price will be set after the completion of the book-building process.

The total number of shares that will be initially allocated to the four participating categories is 24 million, or 100% of the total offered shares. The final allotment will be after the end of the retail subscription.    

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