Riyadh - Mubasher: East Pipes Integrated Company for Industry intends to launch an initial public offering (IPO) and list its ordinary shares on the Main Market of the Saudi Exchange (Tadawul).

The IPO is expected to comprise the sale of 6.3 million ordinary shares, equivalent to 30% of the company's shares, according to a recent bourse filing.

The company has received the approval of Tadawul for the listing on 8 August 2021 and the Capital Market Authority (CMA) on 29 September.

The purchase price will be set at the end of the book-building period.

SNB Capital Company is the financial advisor, bookrunner, lead manager, and underwriter on the potential IPO.

Source: Mubasher

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