First Mills sets IPO final price on Tadawul at SAR 60/share

30/05/2023 Argaam

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First Milling Co. (First Mills) set the initial public offering (IPO) final price at SAR 60 per share, according to SNB Capital, the financial advisor, bookrunner, lead manager and underwriter on the potential offering.

 

In a statement to Tadawul, the company said the IPO coverage ratio reached 68.9 times.

 

First Mills plans to offer 16.65 million shares, or 30% of its SAR 555 million capital, according to data available with Argaam.

 

The retail offering will run from June 6-7. A total of 1.67 million shares, or 10% of the total offer shares, were allocated to retail investors.

 

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