Alkhorayef Water and Power issues prospectus to float 7.5 mln shares on Tadawul

Alkhorayef Water and Power Technologies logo

Alkhorayef Water and Power Technologies Co. issued today, Jan. 20, a prospectus for its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul).

The company will float 7.5 million shares, or 30% of its share capital.

On Dec. 31, 2020, the Capital Market Authority (CMA) approved Alkhorayef Water’s request to float its shares in an IPO.

The IPO targets two tranches:

Participating parties

The tranche comprises institutions and companies. It also includes all categories of investors entitled to participate in the book-building process.  

A total of 7.5 million shares or 100% of the offering size will be allocated to the participating parties, subject to a scale-back to 6.75 million shares. The final allocation will follow the completion of the retail offering.

Retail investors

The tranche comprises Saudi nationals, including any Saudi female divorcees or widows with minor children from a non-Saudi father, and any non-Saudi natural person who is a resident in the Kingdom and any GCC national, in each case who has a bank account with one of the receiving entities.

Up to 10% of the offering size, or 750,000 ordinary shares, will be allocated to this tranche.

The book-building process for institutional investors will run through Sunday, Jan. 31 until Feb. 9, while the retail offering will open from Feb. 16-17.

Key highlights:

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