Alramz Real Estate IPO priced between SAR 61-67/share

22/11/2022 Argaam
Logo ofAlramzReal EstateCo.

Logo of Alramz Real Estate Co.

Alramz Real Estate Co. set the initial public offering (IPO) price range at SAR 61-67 per share, ANB Capital, the financial advisor, bookrunner and lead manager on the offer, said in a statement to Tadawul.

 

The book-building process for qualified institutional investors starts today, Nov. 22 until Dec. 1.

 

The final offer price will be determined after the completion of the book-building process, which will be followed by the retail offering.

 

On Oct. 17, the Capital Market Authority (CMA) approved the company’s application to list 3.33 million shares, or 10% of its capital, on Nomu-Parallel Market, Argaam earlier reported.

 

Alramz allocated 10% of the offer size, or 333,333 shares, for qualified retail investors. The remaining 90% of the offer size, or 3 million shares, were allocated to institutional investors. 

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