HSBC Saudi Arabia, NCB Capital and Morgan Stanley Saudi Arabia, in their capacity as financial advisors, bookrunners and underwriters in the initial public offering of Arabia Internet and Communications Services (solutions by stc), have successfully completed the book building process for the participating classes in the company's shares. The final offer price was set at 151 Saudi riyals per share.
According to Arabiya Net, the subscription coverage amounted to 13003% of the total shares offered, according to a statement posted on the Saudi market's website, Tadawul.
The process of building the order book for the Arab Company for Internet and Communications Services was completed on Monday, within the framework of the public offering of about 24 million shares of the company's shares, representing 20% of its capital.
The company set the price range for the offering shares between 136 riyals and 151 riyals, which means that the offering price has reached the upper end of the price range.
The registration process for the participating categories of institutions and the process of building the order book began on September 5th until Monday, September 13th, and the subscription of individuals will start for 3 days from September 19th, and it will be announced For the final allocation of shares on September 27, with the surplus to be refunded on September 29.
