Saudi Al-Dawaa collects $510mln from its IPO

Reuters Images/Ahmed Yosri

The offer price has been set at $20, according to a bourse statement, after it completed the IPO process

Staff Writer, Arab News

March 8, 2022

PHOTO

RIYADH: Saudi pharamcy chain operator, Al-Dawaa Medical Services Co., collected SR1.9 billion from its initial public offering.

The offer price has been set at SR73 ($20), according to a bourse statement, after it completed the IPO process.

The company offered 25,500,000 shares, representing 30 percent of the company’s capital. 90 percent of the shares were allocated to participating parties, while 10 percent was given to individual investors.

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