Al Mawarid order book 54x covered, IPO priced at SAR 64/shr

Logo of Al Mawarid Manpower Co.

Al Mawarid Manpower Co. successfully completed its book-building process for institutional investors, according to AlJazira Capital, the financial advisor, bookrunner, lead manager and underwriter on the potential offering.

The final offer price was set at SAR 64 per share with the IPO’s order book 54x covered, AlJazira Capital said in a statement to Tadawul.

Retail investors will start subscribing to 10% of Al Mawarid’s offer shares, or 450,000 shares, from May 28 until May 30. 

For More IPOs