Arabian Mills sets TASI IPO price range at SAR 62-66/share

Logo of Arabian Mills

Arabian Mills for Food Products Co. (Arabian Mills) set the price range for its initial public offering (IPO) on the Main Market (TASI) at SAR 62-66 per share.

The bookbuilding will run from Sept. 1-5, and the final price will be determined after the process ends, the company said in a statement today, Sept.1.

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The IPO size is forecast to range between SAR 954 million and SAR 1.01 billion, with the market value between SAR 3.18 billion and SAR 3.38 billion at the time of listing.

In June, the Capital Market Authority (CMA) approved the application submitted by Arabian Mills to float and list 15.39 million shares, or 30% of its share capital, in an IPO on TASI, data compiled with Argaam showed.

The retail offering will run from Sept. 18-19.

About 1.54 million shares, representing a maximum of 10% of the offered shares, will be allocated to retail investors.