Riyadh Cables institutional offering 71.8x covered, IPO priced at SAR 43/share

13/11/2022 Argaam

Riyadh Cables institutional offering 71.8x covered, IPO priced at SAR 43/share

Logo of Riyadh Cables Group

Riyad Capital, the financial advisor, bookrunner, lead manager and underwriter on the initial public offering (IPO) of Riyadh Cables Group Co. announced the successful completion of the book-building process for participating parties, according to a statement to Tadawul today, Nov. 13. 

 

It added that the final offer price was set at SAR 43 per share, with a coverage ratio of 71.8x of the total offer shares. 

 

The retail offering is slated to run for two days, starting Nov. 21. A maximum of 3.3 million shares will be offered to investors, or 10% of the total offer shares, according to Argaam's data. 

 

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