Alinma Investment Co, the sole financial advisor, bookrunner, underwriter and lead manager on the potential initial public offering of Al Taiseer Group Talco Industrial Co. (TALCO) on the Saudi Exchange (Tadawul), said the offering, comprising floating 12 million existing shares at 30% of capital, is ongoing.

 

The company obtained the approval of Tadawul and the Capital Market Authority (CMA) on the planned IPO on Dec. 28 and Dec. 31, 2023, respectively, according to a statement to Tadawul.

 

The offer price for potential subscribers will be determined after the book-building period.

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