Cherry Trading sets TASI IPO price range at SAR 27-28/shr

04:55 PM (Mecca time) Argaam
Logo of Cherry Trading Co.

Logo of Cherry Trading Co.

Cherry Trading Co. set the price range of its initial public offering (IPO) on the Main Market (TASI) between SAR 27-28 per share, BSF Capital and EFG-Hermes in their capacity as financial advisors, lead managers, and institutional bookrunners, said.

 

The offer price will be set after completing the book building process followed by retail subscription, a Tadawul statement indicated.

 

According to Argaam’s data, the company plans to offer nine million shares through an IPO on TASI. The shares represent 30% of its SAR 300 million share capital, divided into 30 million shares, each at a nominal value of SAR 10.

 

The retail offering will run from Nov. 12-13, while the book-building process began today, Oct. 26, and will end on Oct. 30.

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