Thndr Claps » Saudi Claps » Energy🔋 » Luberef IPO price range set ✅
The ClapLuberef, a subsidiary of Saudi Aramco (2222), has initiated the book-building process, with the price range set between SAR 91 – SAR 99 per share.
WhatOn Sunday, institutional subscription for 29.65% (around 50.04 million shares) of Luberef shares began and will run for 6 days until Friday, December 9th.
ParticipantsLubrief appointed NCB Capital, HSBC Saudi Arabia, Citigroup Saudi Arabia, and Morgan Stanley Saudi Arabia as financial advisors, institutional bookrunners, and international coordinators.
NCB Capital has also been appointed as the IPO manager.
So WhatLuberef expects to raise up to SAR 4.95 billion ($1.32 billion) from its IPO if the share price reaches the upper end of the price range announced on Sunday.
Now WhatThe company will announce the final price of the shares at the end of the book-building period.
After the final price is determined, individual subscriptions will start for 5 days, running from Wednesday, December 14th, to Sunday, December 18th.
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