Saudi Tadawul Group sets IPO offer price at top end of range

The IPO order book was 121 times oversubscribed

  
A man walks at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019. Image used for illustrative purpose.

A man walks at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019. Image used for illustrative purpose.

REUTERS/Ahmed Yosri

RIYADH: Saudi Tadawul Group Holding Co. on Sunday set the final offer price for its initial public offering at the top of the range i.e. SR105 per share.

The market capitalization of the exchange stands at SR 12.6 billion as on the listing date, a statement issued by Tadawul said.

The IPO order book was 121 times oversubscribed with the book-building process generating an order book of SR458 billion.

The individual investor subscription period is scheduled to commence on Nov. 30 and ends on Dec. 2.

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