Alkhorayef Water kicks off retail offering today

16/02/2021 Argaam

Logo of Alkhorayef Water and Power Technologies

Alkhorayef Water and Power Technologies Co. (AWPT) launches today, Feb. 16, 2021, its retail offering.

 

The company’s capital stands at SAR 250 million. It floated 7.5 million shares, or 30% of its share capital to the public.

 

A total of 7.5 million shares or 100% of the offering size were allocated to institutional investors during the institutional book-building process.

 

As a second stage, 750,000 ordinary shares, representing 10% of AWPT’s capital were allocated to retail investors at SAR 72 per share.

 

The retail offering will close tomorrow, Feb. 17.

 

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), earlier said that receiving banks are Banque Saudi Fransi, Saudi British Bank (SABB) and Riyad Bank.

 

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