Riyadh – Mubasher: The book-building process for institutions subscribing to Alkhorayef Water & Power Technologies Company’s offered shares has been completed.
The announcement was made by Saudi Fransi Capital, the financial advisor, lead manager, bookrunner, and lead underwriter, and EFG Hermes, the bookrunner, and underwriter of Alkhorayef Water's initial public offering (IPO).
The final offer price was set at SAR 72 per share, with a coverage ratio amounting to 6,320% of the total offered shares.
A total of 7.500 million ordinary shares were allocated to the participating entities, representing 100% of the total shares offered for subscription as a first stage.
As a second stage, a maximum of 750,000 ordinary shares, representing 10% of the total shares offered for subscription, will be allocated to individual subscribers.
The individual investors’ tranche will take place from 16 to 17 February 2021.
