Al-Dawaa starts book-building, sets SAR 65-73 price range for Tadawul IPO

Logo of Al-Dawaa Medical Services Co.

Al-Dawaa Medical Services Co. set the price range between SAR 65-73 per share for its initial public offering (IPO) and started the book-building process, GIB Capital, the bookrunner, said in a bourse statement.

The book-building period starts today, Feb. 13, and will run until Feb. 17.

In December 2021, the Capital Market Authority (CMA) approved an application by Al-Dawaa to sell its shares in an IPO on the Saudi Exchange (Tadawul), Argaam reported.

The company intends to offer 25.5 million ordinary shares, representing 30% of its share capital.

A total of 2.55 million shares, or 10% of the total offered shares, will be offered to retail investors for three days starting from Feb. 27 until March 1.

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