Saleh Abdulaziz Al Rashed & Sons Company (“SAR”,the “Company”, the “Issuer” or the “Group”), a key Saudi provider of integrated construction materials, mining, and industrial spare-parts solutions in the Kingdom of Saudi Arabia (the “Kingdom”), announces the successful completion of the institutional book-building process for participating parties and the determination of the final offer price (the “Final Offer Price”) for its initial public offering (the “IPO” or the “Offering”).

Following the completion of the institutional book-building process, the Final Offer Price for the Offering has been set at SAR 45 per share, which is at the top end of the previously announced price range of SAR 43 to SAR 45 per share.

Based on the Final Offer Price, the total Offering size amounts to approximately SAR 251 million, implying a market capitalization at listing of approximately SAR 837 million. The institutional book-building process was successful, with total value of applications placed during the process exceeding SAR 16,991 million, representing a coverage of 67.7 times.

The Offering comprises 5,580,000 ordinary shares, representing 30% of the Company’s total issued share capital, all of which are existing shares offered by current shareholders1 (the “Selling Shareholders”). The Company will not receive any proceeds from the Offering, and net proceeds will be distributed to the Selling Shareholders on a pro-rata basis after deduction of Offering expenses.

For more information about the IPO, please visit https://ipo.salrashed.com.sa/