MARAFIQ sets IPO price range of SAR 41-46, book-building starts today

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Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) set the initial public offering (IPO) price range of SAR 41-46 per share, according to HSBC Saudi Arabia and Riyad Capital – the joint financial advisors, bookrunners, and underwriters on the company’s share sale.

 

The book-building process for institutional investors starts today, Oct. 9, until Oct. 14.

 

In September, the Capital Market Authority (CMA) approved the utility’s application received for the registration and offering of 73.09 million shares, or 29.24% of capital, on Tadawul, Argaam earlier reported.

 

The retail offering will start from Oct. 26-29. The company will offer 21.93 million shares, or 30% of the total offered shares.

 

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