Riyadh Cables IPO price range set at SAR 39-43/share

Logo of Riyadh Cables Group

Riyad Capital, in its capacity as the financial advisor, bookrunner, lead manager and underwriter on the potential initial public offering (IPO) of Riyadh Cables Group, announced that the price range was set at SAR 39-43 per share, according to a statement on Tadawul.

The bidding and book-building period for participating entities will run through Nov. 6 -10.

The final price will be determined after the completion of book-building, to be followed by retail subscription.

In October, the company obtained the approval of the Capital Market Authority (CMA) to register and float 33 million shares, or 22% of its capital reaching 150 million shares, according to data available with Argaam.

Retail offering will run from Nov. 21-22.

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