RIYADH: Saudi-based Al Wasail Industrial Co. has opened the subscription to its initial public offering today, Dec. 26, in Tadawul’s final IPO for 2021, according to a bourse statement.
The company has set the price between SR16 ($4.3) and SR19 per share.
The qualified investors’ book-building process is being handled by FALCOM Financial Services.
It will run through to Dec. 30, 2021, the statement added.
As many as 2.5 million shares will be available during the specified period, representing 100 percent of the total offering.
Each subscriber will be allowed a maximum of 1.2 million shares and must exceed the minimum of 10 shares.
On completion of the book-building process, the listing of Al Wasail Industrial is set to take place on Nomu, Saudi Arabia’s parallel market.
Tadawul Group aiming to give 70% of its profits to shareholders