84 - 96 SAR price range for "Bin Dawood" share

Saudi Bin Dawood Holding Company set the price range for its prospective offering between 84 and 96 riyals per share, and the start of the period of building the order book for the underwriting institutions.

According to Arabiya Net, the company stated in a statement that 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 ranges between about 1.9 billion riyals, or about $ 512 million, and 2.2 billion riyals, equivalent to $ 585 million.

It is expected, immediately after the listing is completed, that the percentage of publicly owned shares available for circulation will represent 20% of the total shares of the company offered.

and she said that the offering will include 22,860 million shares offered for sale to institutions eligible to participate in the process of building the order book based on the price range (subscribing institutions) in accordance with the instructions of the Capital Market Authority regarding It concerns book building and allocation of shares in initial public offerings, and this includes qualified non-resident foreign financial institutions in accordance with the investment rules of qualified foreign financial institutions in listed securities.

After completing the order book building process and determining the final subscription price, the shares will be offered to individual investors in Saudi Arabia (individual subscribers).

. Initially, all shares will be allocated to the underwriting segment on a temporary basis, and it may drop to 20,574 million shares (representing 90% of the total number of shares) depending on the level The request by individual subscribers in the Kingdom.

The final total of the offering shares allocated to the institutional segment will be determined based on the subscribers' shares of the retail segment.

The company said that the period for registration of applications for participating entities and the process of building the order book for the segment of institutional subscribers begins on September 13, 2020 and ends on September 22, 2020.

The retail subscription period, based on the final subscription price, begins on September 27 and ends on September 29.

The final offer price and the temporary allocation of the offering shares to institutional subscribers will be announced on September 22, 2020. The final allocation of the Offer Shares and the return of the surplus subscription amounts will be announced on October 1, 2020.

Bin Dawood had appointed Goldman Sachs Saudi Arabia ...