Arabian Drilling sets IPO price range at SAR 90-100, book-building starts today

Arabian Drilling Co. (ADC) 

Arabian Drilling Co. (ADC) set the initial public offering (IPO) price range at SAR 90-100 per share, according to HSBC Saudi Arabia, Goldman Sachs Saudi Arabia, and SNB Capital – the joint financial advisors, bookrunners, and underwriters on the potential IPO.  

The book building process for institutional investors will start today, Sept. 28, until Oct. 5.

ADC is set to offer 26.7 million ordinary shares, or 30% of ADC’s share capital following the capital increase, Argaam reported.

The retail subscription to 2.76 million shares, or 10% of the offered shares will run through Oct. 18-19.

Retail investors, IPO, Offering, Share Capital, ADC

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