Scientific and Medical Equipment launches IPO book-building process today

Logo of Scientific and Medical Equipment House

Scientific and Medical Equipment House Co. (SMEH) began today, Jan. 17, the book-building process for its initial public offering (IPO) on the Saudi Exchange (Tadawul), Alistithmar Capital, the financial advisor, bookrunner, lead manager, and underwriter on the offering, said.

The book-building process will run until Jan. 27. The company will offer six million ordinary shares to the public. The price range was set between SAR 45-52 per share.

The final offer price will be determined upon completion of the book-building process.

A total of six million shares, or 100% of the offer size, will be allocated to participating entities (institutional investors).

Where there is sufficient demand from individual subscribers, and institutional investors fully subscribe to the allocated shares, the lead manager has the right to reduce the number of offer shares allocated to the participating entities to a minimum of 5.4 million shares, or 90% of the issue size and a maximum of 600,000 shares, or 10% of the offer shares to individual subscribers.

Institutional subscribers can contract the financial advisor to obtain more information about the book-building process.

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