The start of the institutional subscription in the Saudi Tadawul Group

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Saudi Arabia’s Tadawul Group, the kingdom’s stock exchange operator, has set an indicative price range for the initial public offering, indicating that it could raise up to 3.78 billion riyals ($1.01 billion) from the operation.

Tadawul said in a statement that it intends to sell 36 million shares in a price range between SAR 95 and SAR 105 per share.

The final price will be determined after building the order book, which begins on Sunday and ends on November 26.

The offering of 36 million ordinary shares of the company’s shares represents 30% of the issued capital, through the sale of the existing shares by the current shareholder of the company.

The minimum number of shares that can be subscribed to for the participating classes is 100,000 shares, while the maximum is 5.9 million shares.

Participation in order book building is limited to categories qualified to participate in the order book building process in accordance with the instructions for book building and allocating shares in initial subscriptions issued by the Board of the Capital Market Authority.

The price of the offering will be determined for public subscription after the completion of the process of building the order book, to be followed by the process of subscribing to the individual subscribers segment. The end of the individual subscription period.

In the event that individual subscribers subscribe to all of the offering shares allocated to them, the subscription registry manager has the right to reduce the number of shares allocated to the participating classes to 25.2 million offering shares – as a minimum – representing 70% of the total offering shares.

The process of building the order book for the institutions segment begins today, Sunday, November 21, 2021 AD, and ends on November 26, 2021 AD.





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