The Saudi Bin Dawood Holding Group announced that it is undergoing substantial developments that require disclosure to the financial market, which necessitates postponing the upcoming IPO of the company's shares.
According to Arabiya Net, the company said that it will issue an additional prospectus, containing new information on the order book building process and the size of the offering, and it will be presented to the Capital Market Authority to obtain Its approval, which means the postponement of the IPO, which was scheduled for the twenty-seventh of this September.
The Bin Dawood Group intends to offer a 20% share of the company's capital, and the price range ranges between 84 and 96 riyals per share, which evaluates the company at 11 billion riyals. / p>
According to the company’s statement, the offering includes 22.86 million ordinary shares of the company's current shares that will be sold from the current shareholders.
Bin Dawood expected that the total volume of the offering will range between about 1.9 billion riyals, or about $ 512 million, and 2.2 billion riyals, equivalent to $ 585 million.
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