MARAFIQ sets final offer price at SAR 46/share

Logo of Power and Water Utility Company for Jubail and Yanbu (MARAFIQ)

HSBC Saudi Arabia and Riyad Capital, as the financial advisors, book-runners and underwriters on the initial public offering (IPO) of Power and Utility Company for Jubail and Yanbu (MARAFIQ), announced the successful completion of the book-building process for the participating parties’ tranche.

In a statement to Tadawul, the two companies revealed setting the final offer price at SAR 46 per share, with a coverage ratio of 59x.

They added that subscription for the individual investors' tranche will run between Oct. 26-30 (final day ends at 5:00 pm).

In September, the Capital Market Authority (CMA) approved MARAFIQ’s application for floating 73.09 million shares, or 29.24% of capital, on Tadawul, Argaam earlier reported.

The company will offer 21.93 million shares, or 30% of the total offered shares, to individual investors.

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