Alkhorayef Water closes IPO book-building process today

09/02/2021 Argaam

Alkhorayef Water and Power Technologies logo

The process of receiving applications of institutional investors in Alkhorayef Water and Power Technologies Co.’s (AWPT) book-building process ends today, Feb. 9, 2021, Saudi Fransi Capital, the financial advisor, lead manager, underwriter and bookrunner, and EFG Hermes KSA, bookrunner and underwriter, said in a statement.

 

Investors can subscribe to 100,000 ordinary shares minimum and 1.25 million ordinary shares maximum.

 

Saudi Fransi Capital is the financial advisor, lead manager, bookrunner, and underwriter of the company’s initial public offering (IPO), while EFG-Hermes is the institutions’ lead manager and book runner.

The company floated 7.5 million shares, or 30% of its share capital.

 

On Dec. 31, 2020, the Capital Market Authority (CMA) approved Alkhorayef Water’s request to float its shares in an IPO, Argaam previously reported.

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