Entaj sets final IPO price on TASI at SAR 50

Logo of Arabian Company for Agricultural & Industrial Investments (Entaj) 

Arabian Company for Agricultural & Industrial Investments (Entaj) completed the book-building process for the initial public offering (IPO) on the Main Market (TASI), SNB Capital said in a statement to Tadawul.

SNB Capital is the lead manager, financial advisor, bookrunner and underwriter on the IPO.

The final IPO price was set at SAR 50 per share, and the order book was 208.4x oversubscribed, it added.

For More IPOs

Entaj plans to float nine million shares, representing 30% of its SAR 300 million capital divided into 30 million shares, at a nominal value of SAR 10 apiece, Argaam reported.

The retail offering will start on Feb. 26 and run until Feb. 27. A total of 900,000 shares, or 10% of the offered shares, will be allocated for the retail investors.