Riyadh – Mubasher: Al Rajhi Capital announced that the price range for Al Masane Al Kobra Mining Company’s (AMAK) initial public offering (IPO) will be SAR 58-63 per share.
The institutional book building period has begun on 23 February and will end on 1 March, according to a bourse filing.
AMAK plans to offer 19.80 million ordinary shares, representing 30% of its capital.
Participating entities can subscribe to a minimum number of 100,000 offer shares and up to 3.29 million shares representing the maximum number they can subscribe to.
The final IPO price will be announced after the completion of the book building process which will be followed by the individual investors’ subscription that comprises 5.94 million shares, representing 30% of the total offer shares.
Al Rajhi Capital acts as the financial advisor, bookrunner, lead manager, and underwriter for the IPO.
It is worth noting that in December 2021, the Saudi Capital Market Authority (CMA) approved for AMAK to list shares on the Main Market of the Saudi Exchange (Tadawul).
