Alsaif Gallery sets IPO price range at SAR 100-115/share

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Al-Saif Stores for Development & Investment Co. (Alsaif Gallery) set the initial public offering (IPO) price range at SAR 100-115 per share, the company said in a statement received by Argaam.

 

 

The book-building process for institutional investors starts today, Nov. 22, and will continue until Nov. 28.

 

The company plans to float 10.5 million shares on the Saudi Exchange (Tadawul).

 

The planned-to-be-offered stake represents 30% of the company’s share capital reaching 35 million shares.

 

The retail offering will run from Dec. 5-6. Retail investors will subscribe to 1.05 million shares, or 10% of the offer size.

 

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