Cherry Trading prices TASI IPO at SAR 28/shr

Logo of Cherry Trading Co.

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

 

The company completed the book-building process for participating entities. Up to 20% of the total offer shares will be allocated to individual investors in the second phase.

 

According to Argaam available data, the car rental company plans to offer nine million shares on TASI, representing 30% of its SAR 300 million capital, divided into 30 million shares with a nominal value of SAR 10 each.

 

The retail offering will run from Nov. 12 to Nov. 13.

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