AFG announces IPO of Group Five Pipe Saudi

The subscription period for the IPO will be during 14-18 November

  
A Saudi trader monitors stock information at ANB Bank in Riyadh, Saudi Arabia December 15, 2020.

A Saudi trader monitors stock information at ANB Bank in Riyadh, Saudi Arabia December 15, 2020.

REUTERS/Ahmed Yosri

Riyadh – Aldukheil Financial Group (AFG) announced the initial public offering (IPO) of Group Five Pipe Saudi Company and the listing of its shares on the Saudi Exchange’s (Tadawul) Parallel Market (Nomu).

The financial advisor AFG said Group Five Pipe Saudi intends to offer 2.8 million ordinary shares, representing 10% of the total shares, at a par value of SAR 10 per share, according to a bourse filing on Monday.

The subscription period for the IPO will be during 14-18 November.

AFG noted that the maximum subscription volume is 1.37 million shares, while the minimum volume for the IPO is 10 shares for the eligible investors.

Source: Mubasher

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