PHOTO
Institutional subscription began earlier last week and the deal was completely covered in one day.
The company announced a price range for the offering between SR136 and SR151 per share. Proceeds of the offering in the highest price range would amount to about SR3.62 billion ($1 billion).
Confirmation of pricing and provisional allocations are due on Thursday, September 16. A retail offering is expected to run between September 19 and 21. Final allocations will be announced on September 27.
HSBC, Morgan Stanely and SNB Capital are joint bookrunners.
Saudi British Bank, Saudi National Bank, Al Rahji Bank, Riyad Bank, Alimna Bank and Bank Albilad run the retail tranche.
Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).