Thndr Claps » Saudi Claps » Industrials 🏗 » Price Range for “Riyadh Cables” subscription ✅
The ClapRiyad Capital, the firm handling Riyadh Cables’ IPO, revealed that the price range for the offering will be between SAR 39-43 per share.
The DeetsRiyad Capital clarified that the book building for the institutional segment in the subscription of Riyadh Cables begins on November 6th and ends November 10.
UnderwritingRiyadh Cables will offer 33 million ordinary shares, 22% of its capital by selling existing shareholder’s shares.
The minimum number of shares that can be subscribed to will be 100,000 shares while the maximum will be approximately 5 million shares.
Riyadh Cables GroupThe group holds a 99% in 5 companies in KSA, with the exception of one company in which it owns a 36% stake, according to the prospectus.
The company also indirectly owns stakes in companies in Kuwait, the UAE, Egypt, Iraq, Oman and Qatar.
Now WhatThe price of the offering will be determined after the completion of the book-building process.
The offering period for retail investors is expected to start from November 21 and end on November 22.
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