SMASCO sets final IPO price at SAR 7.50/share

19/05/2024 Argaam
Logo ofSaudi Manpower Solutions Co. (SMASCO)

Logo of Saudi Manpower Solutions Co. (SMASCO)

Saudi Manpower Solutions Co. (SMASCO) completed the book-building process for participating categories and set the final offer price at SAR 7.50 per share, according to SNB Capital, the financial advisor, bookrunner, lead manager, and underwriter on the potential initial public offering (IPO).

 

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The IPO was 128 times covered, as the total value of orders during the book-building process reached SAR 115 billion, SNB Capital said in a statement to Tadawul.

 

The retail offering will run from May 26–27. A total of 12 million shares, or 10% of the total offer, are allocated to retail investors, Argaam reported.

 

The company floated 120 million shares, or 30% of its share capital, at a nominal value of SAR 1 per share.

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