The price range for the initial public offering of Riyadh Cables was set between 39 - 43 riyals per share.
According to Arab Net, Riyad Capital, in its capacity as the financial advisor, director of the institutional subscription book, the lead manager and the underwriter, said that the process of building the book of orders for the institutional segment in the subscription of the Riyadh Cables Group begins on Sunday, November 6, 2022 and ends on Thursday, November 10 2022.
The subscription process in Riyadh Cables Group is represented by offering 33 million ordinary shares of the company's shares, representing 22% of the company's issued capital, through the sale of existing shares by the current shareholders of the company.
The minimum number of shares that can be subscribed to for the participating classes is 100,000 shares, while the maximum is about 5 million shares.
Participation in order book building is limited to categories that are eligible to participate in the order book building process in accordance with the instructions for book building and allocating shares in initial subscriptions issued by the Board of the Capital Market Authority.
The price of the offering will be determined for public subscription after the completion of the process of building the order book, to be followed by the process of subscribing to the retail segment. The number of the offering shares that will be initially allocated to the participating classes is 33 million offered shares, representing 100% of the total offering shares, provided that the final allotment is after the end of the year. Individual subscription period.
In the event that individual subscribers subscribe to all of the offering shares allocated to them, the financial advisor has the right to reduce the number of shares allocated to the participating classes to a minimum of 29.7 million offering shares, representing 90% of the total offering shares.
