Arabian Waterproofing to offer 30% stake in IPO

21/09/2017 Argaam

Arabian Waterproofing Industries Co. (Awazel) will float 8.19 million shares, representing 30 percent of its capital, in an initial public offering (IPO), the Capital Market Authority (CMA), Saudi Arabia’s market regulator said in a bourse statement on Thursday.

 

The IPO will be launched during the period from October 30 to November 5, as soon as the book-building process is complete.

 

A portion of the offered shares will be allocated to institutional investors, according to a statement.

 

The Riyadh-based company, which was established in 1981, produces more than 150 different types of materials used in road, bridges, roofing, waterproofing, damp proofing and tanking.

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