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The book-building period for participating institutional investors will run from Nov. 23 to Nov. 27
Al Ramz Real Estate Co. (Alramz) set the price range for its initial public offering (IPO) on the Main Market (TASI) at SAR 67-70 per share, SNB Capital announced.
SNB Capital is acting as the lead manager, financial advisor, bookrunner for institutional investors, and underwriter for Alramz’s IPO.
The book-building period for participating institutional investors will run from Nov. 23 to Nov. 27, it said in a statement to Tadawul.
According to data available with Argaam, Alramz intends to offer 30% of its shares on TASI, through the issuance of 12.86 million new shares, representing 30% of the company’s capital after the increase.
The company’s current capital stands at SAR 300 million, divided into 30 million shares with a nominal value of SAR 10 per share.
After the completion of the offering, the capital will increase to SAR 428.57 million, divided into 42.86 million shares.
The retail subscription period will begin on Dec. 7, and end on Dec. 9, with 20% of the total offered shares allocated to retail investors.
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