Logo of Arabian Contracting Services Co. (Al Arabia)
GIB Capital, the bookrunner of Arabian Contracting Services Co.'s (Al Arabia) initial public offering (IPO), announced that the offering price range was set at SAR 90-100 per share, according to a bourse statement.
The bidding and book-building period for participating parties starts today, Oct. 10 until Oct. 19.
The company will float 15 million ordinary shares, representing 30% of its share capital, which will be sold by the shareholders - Abdelellah Abdulrahman Al-Khereiji and Engineer Holding Group Co.
The retail offering will run from Oct. 26 to 29.
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IPO Summary |
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Issue percentage |
30% |
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Number of shares offered |
15 mln |
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Qualified subscribers |
- Participating categories include investment funds, qualified foreign investors (QFIs), legal entities and GCC investors. -Retail investors |
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IPO minimum size for retail investors |
10 shares |
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IPO minimum size for institutional investors |
100,000 shares |
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IPO maximum size for retail investors |
300,000 shares |
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IPO maximum size for institutional investors |
2,499,999 shares |
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Registering requests and book building period |
Oct. 10 – 19 |
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Retail offering period (3 days) |
Oct. 26 -28 |
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Final allocation of IPO shares |
Nov. 4 |
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Surplus refund |
Nov. 4 |
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Use of proceeds |
The net proceeds, after deducting all the offering expenses amounting to SAR 35 million, will be distributed to selling shareholders, according to their ownership percentage in the offering. The company will not receive any part of the proceeds. |
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