Riyad Bank’s capital is to be raised from SAR 6250m to SAR 15bn by issuing 875m shares worth more than SAR 13bn in the largest IPO in the Saudi market ever.
 

The rights issue shares will be offered at SAR 15 per share (SAR 10 par value + an issuance premium of SAR 5) with the right of subscribing to 7 shares for each 5 shares held (140%).


The IPO will take place during the period from May 17 to May 28, 2008 and is considered to be the largest IPO in the Saudi market with an issuance value of SAR 13.1bn.

 

Saudi largest IPOs

IPO value (SAR billion)

IPO date

Company

13.10

May 2008

Riyad Bank

10.50

April 2008

Alinma Bank

10.20

2003

STC

6.75

2007

Saudi Kayan

6.30

2008

Zain
 

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