Alkhorayef Water and Power issues prospectus to float 7.5 mln shares on Tadawul

20/01/2021 Argaam

Alkhorayef Water and Power Technologies logo


Alkhorayef Water and Power Technologies Co. issued today, Jan. 20, a prospectus for its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul).

 

The company will float 7.5 million shares, or 30% of its share capital.

 

On Dec. 31, 2020, the Capital Market Authority (CMA) approved Alkhorayef Water’s request to float its shares in an IPO.

 

 

The IPO targets two tranches:

 

Participating parties

 

The tranche comprises institutions and companies. It also includes all categories of investors entitled to participate in the book-building process.  

 

A total of 7.5 million shares or 100% of the offering size will be allocated to the participating parties, subject to a scale-back to 6.75 million shares. The final allocation will follow the completion of the retail offering.

 

Retail investors

 

The tranche comprises Saudi nationals, including any Saudi female divorcees or widows with minor children from a non-Saudi father, and any non-Saudi natural person who is a resident in the Kingdom and any GCC national, in each case who has a bank account with one of the receiving entities.

 

Up to 10% of the offering size, or 750,000 ordinary shares, will be allocated to this tranche.

 

The book-building process for institutional investors will run through Sunday, Jan. 31 until Feb. 9, while the retail offering will open from Feb. 16-17.

 

 

Key highlights:

 

Company’s Profile

Company

Alkhorayef Water and Power Technologies

Market

TASI - Main Market

Main activities

Operate, maintain and implement water and waste water treatment projects

Capital

SAR 250 mln

 

IPO Summary 

Issue percentage (%) 

30% 

Number of shares offered 

7.5 mln 

Qualified subscribers 

-Participating categories  

-Retail investors 

IPO minimum limit for retail investors 

10 shares 

IPO minimum limit for participating categories (institutions)  

100,000 shares 

IPO maximum limit for retail investors 

250,000 shares 

IPO maximum limit for participating categories (institutions) 

1,249,999 shares 

Application registration and book-building period 

Jan. 31 – Feb. 9, 2021 

Retail IPO period 

Feb. 16-17, 2021 

Final allotment of IPO shares 

Feb. 22, 2021 

Surplus refund 

Feb. 22, 2021 

 

Additional Information

Financial advisor, lead manager, bookrunner, underwriter

Saudi Fransi Capital

Institutions lead manager and book runner

EFG-Hermes KSA

Receiving banks

Banque Saudi Fransi, Saudi British Bank (SABB) and Riyad Bank

 

For More IPOs 

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.