Logo of ADES International Holding Co.
Shares of ADES International Holding Plc are classified as mixed and Shariah-compliant. Some loans that represent less than 33% of the company’s assets are non-compliant with Shariah, Albilad Capital said.
No purification amount is required, Albilad Capital added on its official X platform.
The company announced that 12 million shares, or 30% of its share capital, will be offered in an initial public offering (IPO), according to data available with Argaam.
Retail investors start today, Sept. 26, subscription to 33.87 million of ADES shares at SAR 13.50 each (the nominal value stands at SAR 1).
The institutional offering, which ended last week, was 63x covered. The total value of orders reached SAR 286.9 billion.
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