Saudi SNS sets IPO price at $19/share

Reuters Images/Fahad Shadeed

Saudi SNS will earmark 1.50mln shares, representing 25% of the total shares, to individual investors

Staff Writer, Mubasher

July 20, 2022

PHOTO

Riyadh – Saudi Networkers Services Company (SNS) has set the price for its initial public offering (IPO) at SAR 71 per share to list ordinary shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).

Aldukheil Financial Group (AFG), the financial advisor for the IPO, pointed out that the subscription period will be during 24-28 July 2022, according to a bourse filing on Wednesday.

Saudi SNS will earmark 1.50 million shares, representing 25% of the total shares, to individual investors.

Earlier in January this year, Tadawul gave a nod to the company’s IPO request, while the Capital Market Authority (CMA) granted its approval last June.

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