Arabian Contracting Services Co.'s (Al Arabia) initial public offering (IPO) offer price range is set at 90-100 riyals per share ($24-$26.6), GIB Capital, the book runner for the offering said in a Tadawul filing on Sunday.

The final price per share will be determined after the completion of the book-building process, GIB Capital said.

Al Arabia intends to float 15 million ordinary shares, representing 30 percent of its share capital. The slares will be sold by Abdelellah Abdulrahman Al-Khereiji and Engineer Holding Group Co.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@refinitiv.com

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