Zahrat Al Waha IPO’s price set at SAR 51

09/08/2017 Argaam

Zahrat Al Waha for Trading Co. has set the share issue price for its initial public offering (IPO) on Tadawul, Saudi Fransi Capital, the financial advisor and lead manager of the IPO said in a statement.

 

The coverage ratio amounted to 120 percent.

 

The company plans to float 4.5 million shares, or 30 percent of capital, from Aug. 13 to Aug. 20.

 

A total of 3.6 million shares, or 80 percent of the offering, will be sold to institutional investors. The remaining 900,000 shares will be offered to retail investors.

 

All the preparations for the IPO were done and the book-building process has been completed, Saudi Fransi Capital added.

 

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