Saudi Home Loans institutional offering 50x covered, IPO price set at SAR 20

Logo of Saudi Home Loans Co. (SHL)

Saudi Home Loans Co. (SHL) successfully completed the book-building process for institutions, said Riyad Capital, the financial advisor, bookrunner, lead manager, and underwriter on the company’s initial public offering (IPO).

It set the final offer price at SAR 20 per share, with a coverage ratio amounting to 50x of the total offer shares.

Earlier, SHL announced plans to float 30 million shares, or 30% of its capital, in an IPO on the Saudi Exchange (Tadawul).

Up to 10% of the offer size, or 3 million shares, will be allocated for retail investors, who will subscribe to these shares from March 27-29.

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