Arabian Waterproofing Industries Co. (Awazel) issued on Monday a prospectus for its initial public offering (IPO) on Tadawul.
The company will float 8.19 million shares, representing 30 percent of its capital, in an initial public offering (IPO).
The IPO will be launched during the period from Oct. 30 to Nov. 5, as soon as the book-building process is complete.
A total of 8.19 million shares, or 100 percent of the offering, will be allocated to institutional investors. The lead manager can reduce this percentage to 80 percent, or 6.55 million shares, upon obtaining the approval of the Capital Market Authority (CMA).
The company will sell the remaining 1.64 million shares, or 20 percent of the share float to retail investors.
The Riyadh-based company, which was established in 1981 with SAR 273 million in capital, Argaam earlier reported.
It produces more than 150 different types of materials used in road, bridges, roofing, waterproofing, damp proofing and tanking.
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