The company said in a statement seen by Namazon today, that all the details of the offering were published in the approved prospectus.
The centers announced on April 16th their intention to offer their shares for public subscription in the Saudi Stock Exchange.
According to the statement, the offering price range was set from 26 to 33 Saudi riyals per share, with a market value of the company ranging between 12.4 billion riyals and 15.7 billion Saudi riyals after Approval of the Offering.
The offering includes 95 million shares representing 65 million shares of the current company, which will be sold by the current shareholders, and 30 million new shares will be issued by the company for Capital increase path.
The offering size is expected to range between 2.47 billion riyals and 3.135 billion riyals.
It is expected that the proceeds from the new net offering of shares will range between 780 million riyals and 990 million riyals, and it will be used to pay the outstanding debts.
After the IPO is completed, 20% of the source’s shares will be floated after the capital increase (before exercising the additional allocation option).
The offering will include 95 million shares for eligible parties to participate in the underwriting process (subscribed institutions segment) according to the instructions of the Capital Market Authority in the Kingdom regarding building the order record and allocating shares in the initial subscriptions .
After the subscription for the shares of the subscribed institutions segment is completed, the shares will be available for subscription to individual investors in the Kingdom (the individual subscribers segment).
Initially, all shares will be allocated in favor of the subscribed companies temporarily, and may decrease to 85.5 million shares (representing 90% of the total offering shares) depending on the demand level. By individual investors in the kingdom.
The final total of shares allocated to the subscribed institutions segment will be determined based on the subscribers ’shares from individual subscribers.
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