PIF, stc set final secondary offering price at SAR 100 per share

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The Public Investment Fund (PIF) and stc set the final secondary public offering price at SAR 100 per share based on the results of the bookbuilding process.

The offering was successfully oversubscribed with strong demand from both local and international institutional investors. The shares offered to retail investors were fully covered, with more than 231,000 individual subscribers.

All shares offered to retail investors will be allocated, with a minimum of 10 shares for each subscriber and the remaining shares will be allocated on a pro-rata basis with an average allocation factor of about 84.11%

The remaining 108 million offer shares will be allocated to institutional investors, in consultation with the joint bookrunners.

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