Riyadh – Mubasher: Power and Water Utility Company for Jubail and Yanbu (Marafiq) intends to proceed with the initial public offering (IPO) to trade 29.24% of its share capital on the Main Market of the Saudi Exchange (Tadawul).
The firm plans to offer 73.09 million shares, of which 51.16 million shares (70%) will be allocated to institutional investors, according to a bourse disclosure.
Meanwhile, the remaining 21.92 million shares (30%) will be allocated to individual investors.
HSBC Saudi Arabia and Riyad Capital act as the joint financial advisors, book-runners, and underwriters for the potential offering.
On 24 August 2022,Tadawul greenlighted Marafiq’s request to list on the main market, while the Capital Market Authority (CMA) granted its approval last September.
