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Investment bank Saudi Fransi Capital said Sunday that the final offer price for the initial public offering (IPO) of Alkhorayef Water & Power Technologies Company (AWTC) is 72 Saudi riyals ($19.20) per share.
Alkhorayef Water & Power Technologies, which implements water and wastewater treatment projects in the kingdom, said last month it would float 7.5 million shares, or 30 percent of its capital, in an IPO.
Saudi Fransi Capital, along with EFG Hermes, has been appointed the bookrunner and manager of the IPO.
In a statement to the Saudi Stock Exchange (Tadawul), the firm said the participating entities that have fully subscribed to the offered shares have been allocated to them, representing 100 percent of the total shares offered for subscription.
Upon completion of the book-building process, some 750,000 ordinary shares, representing 10 percent of AWTC’s capital, will be allocated to individual subscribers.
(Writing by Brinda Darasha; editing by Cleofe Maceda)
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