Al-Hamadi to start IPO book building on Wednesday

25/05/2014 Argaam

Al-Hammadi Development and Investment will start the process of book-building for its planned 22.5 million share initial offering constituting 30 percent of its capital, next Wednesday.

Final share price will be set after the book building process. The entire shareholding will be assigned to institutions and mutual funds.

The arranger may however allocate 50 percent of the offered shareholding to individuals after regulatory approval.

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