Retail subscription to Tanmiah Food’s IPO to start tomorrow

26/07/2021 Argaam

Logo of Tanmiah Food Co.

The retail tranche of Tanmiah Food Co.’s initial public offering (IPO) will commence tomorrow, July 27, Saudi Fransi Capital, the financial advisor, lead manager, bookrunner and underwriter, said in a statement.

 

The retail subscription period will last for one day only.

 

A total of six million ordinary shares, representing 30% of the total shares of the company, were offered to institutional investors during the book building process.

 

A total 600,000 ordinary shares have been allocated to individual subscribers, representing 10% of the total offered shares, at a price of SAR 67 per share.

 

Saudi Fransi Capital said that the receiving bank, Banque Saudi Fransi, has completed its preparations and will provide all necessary facilities to allow individual subscribers to subscribe to the IPO through their branches throughout the Kingdom and through various electronic means.

 

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