Nayifat sets SAR 29 to SAR 34 per share as price range for planned IPO

21/10/2021 Argaam

Logo of Nayifat Finance Co. 

Nayifat Finance Co. (NFC) set the price range and started the institutional book-building period for its planned initial public offering (IPO), according to a bourse statement.

 

The announcement was made by HSBC Saudi Arabia – which is the financial advisor, lead manager, lead underwriter and lead bookrunner of the potential IPO – along with GIB Capital and Saudi Fransi Capital – the joint bookrunners and co-underwriters.

 

The price range for the offering was set between SAR 29 and SAR 34 per share.

 

Nayifat plans to offer 35 million shares for IPO, representing 35% of the company's shares, Argaam earlier reported. The period of retail subscription will run from Nov. 7-8, 2021.

 

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