The Clap
Al Saif Gallery completed the book-building process for the institutional segment with a coverage rate of 1550% and set the final price of the IPO at SAR 115 per share.
What
The participating groups subscribed were allocated 10.5 million ordinary shares, which represents 100% of the total shares offered for the IPO’s first stage.
So What
Al Saif Gallery received the Capital Market Authority’s (CMA) approval for the IPO, where it will offer 10.5 million shares, 30% of the capital, through the sale of shares owned by existing shareholders.
The final offering price of the shares will be determined at the end of the book-building period.
Now What
Subscriptions for individual investors will begin on Monday, December 5th, and last until Tuesday, December 6th.
