Alamar IPO 47.5x covered, final offer price set at SAR 115/share

03/07/2022 Argaam

HSBC Saudi Arabia, the financial advisor, bookrunner, lead manager, and underwriter on the initial public offering (IPO) of Alamar Foods Co., 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 115 per share with a coverage ratio of 47.5 times of the total offer shares.

 

According to data compiled by Argaam, the company offered 10.63 million shares, representing 41.7% of capital, on the Saudi Exchange (Tadawul).

 

The individual investors’ tranche subscription process for 10% of the total offer shares will start from July 20-21.

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