Al Arabia’s institutional book building process ends today

Logo of Arabian Contracting Services Co.

GIB Capital, the financial advisor, lead manager, bookrunner, and underwriter of the offering of 30% of the shares of Arabian Contracting Services Co. (Al Arabia), announced that the deadline for receiving the institutional applications for participation in the book building process ends today, Oct. 19, at noon.

The minimum number of offer shares to be subscribed to by each participating party shall not be less than 100,000 and no more than 2.49 million.

Al Arabia book building process commenced, on Oct. 10, in preparation for the launch of 30% of its shares for public subscription. The price range has been determined between SAR 90 and SAR 100 per share.

GIB Capital added that it has completed with the receiving agents, all the preparations required for the success of the retail subscription, which will commence on Oct. 26 for three days.

GIB Capital confirmed that it has been agreed with the receiving agents - Saudi National Bank, Bank Albilad, Saudi British Bank and Riyad Bank - to ensure the provision of IPO application forms through the channels that will be provided by them.

For more information and review of the prospectus, please visit the websites of the Saudi Exchange at (www.saudiexchange.sa), Capital Market Authority (www.cma.org.sa), Arabian Contracting Services Company, at www.al-arabia.com, and at GIB Capital at www.gibcapital.com.

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