Riyadh – Mubasher: GIB Capital announced the commencement of the book building period for Al Dawaa Medical Services Company's initial public offering (IPO).
With the price range set at SAR 65-73 per share, the IPO comprises 25.5 million ordinary shares, representing 30% of the company’s capital, according to a bourse filing on Sunday.
GIB Capital, the offering's bookrunner, noted that participating investors can apply for a minimum number of 100,000 shares, while the maximum number of shares was set as 4.24 million shares.
The final IPO price will be determined following the completion of the five-day book-building process, during 13-17 February, which will be followed by the retail subscription process.
On 23 January, the company announced its intention to list part of its ordinary shares on the Main Market of the Saudi Exchange (Tadawul)Tadawul.
