MARAFIQ announce intention to list on Tadawul

Power and Water Utility Company for Jubail and Yanbu (Marafiq) announced its intention to proceed with the initial public offering (IPO) and share listing on the Main Market, according to HSBC Saudi Arabia and Riyad Capital in their capacity as financial advisors, book-runners, and underwriters on the potential IPO.

The offering, after taking into account minority shareholders with a total of 0.76% of MARAFIQ’s share capital, will correspond to a 30% free float at listing. The final price at which all subscribers in the offering will purchase shares will be determined at the end of a book-building process.  

Last month, the Capital Market Authority (CMA) approved the company’s request to register and offer 73.09 million shares, or 29.24% of capital, on the Saudi Exchange (Tadawul), according to Argaam.

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