Sport Clubs IPO priced at SAR 7.50/shr on TASI

Logo of Sport Clubs Co.

Sport Clubs Co. successfully completed the book-building process for participating parties, and the final offer price was set at SAR 7.50 per share, said BSF Capital, the financial advisor, bookrunner, and underwriter, in a statement to Tadawul.
 
The IPO order book was 44.1x covered.

For More IPOs
 

The share sale was priced at the top of the previously announced range – between SAR 7.00 and SAR 7.50 per share.

The participating parties fully subscribed to the 34.32 million shares initially offered.

Moreover, a maximum of 20% of the total shares on offer will be allocated for individual investors.

The company planned to float 34.32 million ordinary shares, representing 30% of its capital.

The book-building process ran from June 22-26.

The retail subscription is scheduled for July 8.