First Avenue sets IPO price range at SAR 5.7-6/share

09/09/2024 Argaam
Logo ofFirst Avenue Real Estate Development Co.

Logo of First Avenue Real Estate Development Co.

Al Khair Capital, the financial advisor and lead manager for the potential IPO of First Avenue Real Estate Development Co., announced the proposed price range for the latter's IPO and the start of the book-building period for qualified investors.
 
In a statement to Tadawul, the company said the price rage was set at SAR 5.7-6 a share.
 
 

The book-building process will run through Sept. 10-16, the statement added.

 

According to data available on Argaam, First Avenue announced plans to offer 16.42 million shares on the Nomu-Parallel Market. The shares to be offered represent 8.01% of post-IPO capital that amounts to SAR 205 million, or 8.7% of pre-IPO capital. The nominal value is SAR 1/share.

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