Morabaha Marina prices IPO at SAR 13-14.60/share

14/05/2023 Argaam

Morabaha Marina prices IPO at SAR 13-14.60/share

Logo of Morabaha Marina Financing Co. (MMFC)

Morabaha Marina Financing Co. (MMFC) set the initial public offering (IPO) price range between SAR 13 and SAR 14.60 per share, according to Albilad Capital, the financial advisor, bookrunner, lead manager and underwriter on the potential offering, said.  

 

The book-building process for institutional investors starts from May 14-18.

 

The final offer price will be announced after the completion of the book-building process, which will be followed by the retail offering.

 

MMFC plans to offer 21.4 million shares, or 30% of its SAR 714.29 million capital after a capital hike. The shares on offer, represent nearly 42.86% of the company’s SAR 500 million capital before this hike.

 

The retail offer will run from May 28-29.

 

MMFC was founded in 2012 as a pioneering Shariah-compliant financing platform offering a wide range of services to individuals as well as small-and medium-sized enterprises (SMEs).

 

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