East Pipes IPO 71.8x covered, final offer price set at SAR 80/share

Logo of East Pipes Integrated Company for Industry

SNB Capital, as the financial advisor, bookrunner, lead manager, and underwriter on the initial public offering of East Pipes Integrated Company for Industry, announced the successful completion of the book-building process for the participating parties tranche for the company’s shares.

According to a bourse filing, the final offer price was set at SAR 80 per share with a coverage ratio of 71.8x of the total offer shares.

According to data compiled by Argaam, the company offered 6.3 million shares, representing 30% of capital, on the Saudi Exchange (Tadawul).

The individual investors’ tranche subscription process for 10% of the total offer shares will commence tomorrow, Jan. 24, and will last for two days.

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