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Saudi mortgage lender Amlak International is selling its shares for between 15 and 17 Saudi riyals, it has been confirmed.
The company and its financial advisor for the listing, NCB Capital, also announced on Sunday that the book-building process for the initial public offering (IPO) will start on June 22 and close on June 29.
The lender had earlier unveiled plans to sell more than 27 million of its shares, representing a third of its capital. It is looking to raise money through investment funds, companies, foreign and Gulf investors, companies in the banking and insurance sectors and unlisted Saudi companies, among others.
The offered shares will be allocated to the participating institutions and investment funds, representing 100 percent of the total 27.2 million shares offered.
The final share price for the listing will be set after the end of the book-building process.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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