Almajed Oud sets final IPO price at SAR 94/share

03/09/2024 Argaam
Logo ofAlmajed For Oud Co.

Logo of Almajed For Oud Co.

Almajed For Oud Co. completed the book-building process for participating categories and set the final offer price at SAR 94 per share, the upper limit of the SAR 90 to SAR 94 range, according to Saudi Fransi Capital (SFC), the financial advisor, bookrunner, lead manager, and underwriter of the initial public offering (IPO).

 

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The IPO was 156 times covered or 15,646%, SFC said in a statement to Tadawul.

 

The company floated 7.5 million shares, or 30% of its share capital (25 million shares), on TASI at a nominal value of SAR 10 per share, according to Argaam’s data.

 

The retail offering will run for one day, Sept, 15, 2024. A total of 1.5 million shares, or 20% of the total offer, are allocated to retail investors, Argaam reported.

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