Alkhorayef Water sets final offer price at SAR 72

Logo of Alkhorayef Water & Power Technologies Co.

Alkhorayef Water & Power Technologies Co. (AWPT) successfully completed the book-building process for institutional investors and set the final offer price at SAR 72 per share, with a coverage ratio amounting to (6320%) of the total offer shares, Saudi Fransi Capital, the Financial Advisor, Lead Manager, Bookrunner, and Lead Underwriter, and EFG Hermes KSA, the Bookrunner, and Underwriter of the Initial Public Offering (IPO), said in a statement.

Saudi Fransi Capital revealed that the participating entities fully subscribed to the offered shares, as seven million five hundred thousand (7,500,000) ordinary shares were allocated to them, representing 100% of the total shares offered for subscription as a first stage.

Upon the successful completion of the book-building process, as a second stage, 750,000 ordinary shares, representing 10% of AWPT’s capital, will be allocated to individual subscribers as a maximum.

Saudi Fransi Capital added that it has completed, with the receiving banks, Banque Saudi Fransi, Riyadh Bank, and Saudi British Bank (SABB), all necessary preparations for receiving subscriptions from individual investors, which will run from Feb. 16-17.

All information and details related to the offering are available in the prospectus published on the website of the Capital Market Authority (www.cma.org.sa), the website of Alkhorayef Water & Power Technologies Company (www.awpt.com.sa) and the website of Saudi Fransi Capital Company (www.sfc.com.sa). 

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