Logo of Saudi Tadawul Group
Saudi Tadawul Group Holding Co. increased the maximum number of the shares allocated to retail subscribers in its planned initial public offering (IPO) to 10.80 million shares, or 30% of the total offer shares, according to its supplementary prospectus issued today, Nov. 9.
The company earlier announced allocating 3.6 million shares to individual subscribers, or 10% of the total offer size.
The decision comes as part of Saudi Tadawul Group’s efforts to enable higher participation from individual subscribers in the Offering and provide access to investment opportunities.
CEO Khalid Al Hussan commented: “Our aim is to provide an adequate opportunity to all type of investors in the Saudi equity market to participate in the offering. Individual investors’ demand has been high, as seen during recent IPOs in Saudi Arabia, and we wanted to seize this momentum to encourage diversity in our shareholding structure post listing.”
“Individual investors have always been at the centre of our strategic initiatives at Saudi Tadawul Group. We have always focused in providing type of investors with attractive and diversified investment opportunities, creating a balanced investment environment that supports the aspirations of individual investors, who make up a large trading segment on the Saudi Exchange,” he added.
On 3 November 2021, the Capital Market Authority (CMA) approved the company’s application for IPO of 36 million ordinary Shares, which represent 30% of the company’s issued share capital, by way of sale of existing shares by the Public Investment Fund (PIF or Selling Shareholder). The final offer price of the offer shares will be determined at the end of the bookbuilding period.
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Company Profile |
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Company |
Saudi Tadawul Group Holding |
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Market |
Saudi Exchange (Tadawul) |
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Core Activities |
A holding group that includes four subsidiaries, namely the Saudi Exchange (Tadawul), Securities Clearing Center (Muqassa), Securities Depository Center (Edaa) and Wamid. |
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Capital |
SAR 1200 mln |
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Number of shares |
120 mln shares |
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IPO Summary |
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Offer percentage (%) |
30% |
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Number of shares offered |
36 mln shares |
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Qualified subscribers |
- Participating categories that include investment funds, QFIs, legal entities and GCC investors (the financial advisors, in coordination with the company, shall have the right to reduce the number of offer shares allocated to participating parties to 25.2 million shares, or 70% of the offer shares).
- Retail subscribers (A maximum of 10.8 million shares, which represent 30% of the offer shares shall be allocated to Individual Subscribers). |
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IPO minimum limit for individual subscribers |
10 shares |
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IPO minimum size for institutional subscribers |
100,000 shares |
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IPO maximum size for individual subscribers |
250,000 shares |
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IPO maximum size for institutional subscribers |
5.999 mln shares |
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Registering requests period Book-building period |
6 days starting from Nov. 21, 2021 |
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Retail subscription period |
3 days from Nov. 30 to Dec. 2, 2021 |
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Final allocation |
Not later than Dec. 6, 2021 |
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Surplus refunds |
Dec. 08, 2021 |
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Special Information |
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Lead Manager |
SNB Capital |
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Financial Advisors, Bookrunners, Joint Global Coordinators and Underwriters |
SNB Capital, JP Morgan Saudi Arabia and Citigroup Saudi Arabia |
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