Banking sources for CNBC Arabia: Covering the institutional subscription in Saudi “Tadawul” within minutes and pricing towards the maximum | latest news


Banking sources told CNBC Arabia that the institutions’ subscription to the “Tadawul” offering in the Saudi market was completely covered within minutes of opening the subscription door earlier in the evening of last Sunday.

The sources added that the strong investor demand would push the offering pricing towards the maximum price range, which means that the company is on track to raise about $1 billion from offering a 30% stake in the Saudi stock market.

Institutions’ subscription to the offering began earlier this week and will continue until next Friday, and then the subscription is opened for individuals.

The sources added that pricing the offering at the maximum will classify “Tadawul” as one of the largest offerings of its class at all in the world.

Tadawul has set the price range for its initial offering between SAR 95 and SAR 105 per share.


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