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Saleh Abdulaziz AlRashed & Sons Company (SAR) has completed the institutional book‑building process for its IPO and set the final offer price at SAR 45 ($11.99) per share, the top end of the previously announced range of SAR 43–45.
The final price implies a total offer size of SAR 251 million and an estimated market capitalisation at listing of around SAR 837 million.
ANB Capital, acting as financial advisor, lead manager, bookrunner and underwriter for the IPO, said the institutional tranche was 67.7 times oversubscribed.
The offering consists of 5,580,000 ordinary shares, representing 30% of the company’s issued share capital. All shares in the offering are existing shares sold by current shareholders.
The subscription period for retail investors will open on Thursday, 12 February, and will remain available until Tuesday, 17 February.
(Writing by Brinda Darasha; editing by Daniel Luiz)
