Amlak share price range set between SR15 and SR17
RIYADH, June 21, 2020
Amlak International and NCB Capital, Financial Advisor, Bookrunner, Underwriter and Lead Manager for Amlak international’s IPO, said that the price range of Amlak International’s offer shares has been set between SR 15 ($4) and SR17 ($4.52).
The book building process will start Monday (June 22) aiming at offering Amlak International’s shares for public subscription and will continue until June 29.
NCB Capital advised that the final share price will be set after the end of Amlak International’s IPO book building process, which targets two investor groups.
The Institutional group includes investment funds, companies and qualified foreign investors, GCC investors that are considered as legal personalities, authorized individuals to deal in securities as principals, companies in the banking and insurance sectors, directors of companies’ portfolios listed in the financial market, and unlisted Saudi companies under the conditions established by the IPO Prospectus.
The Individuals group includes Saudi citizens, including divorced Saudi women or widows who have minor children from a non-Saudi husband, any ordinary non-Saudi resident who has a bank account with one of the receiving parties, in addition to individual GCC investors. The subscription process for the participating entities during the IPO period, which includes individual subscribers, starts on July 2 and lasts for 4 days, including the closing day of the IPO, ending on July 5.
NCB Capital added that all offered shares (27,180,000) will be allocated to the participating institutions and investment funds, representing 100% of the total shares offered. In the event that there is sufficient demand from individual subscribers, the IPO’s Lead Manager, with the approval of the CMA, has the right to reduce the number of allocated shares to the participating entities to 24,462,000 shares, representing 90% of the total shares offered, and offer a maximum of 2,718,000 shares, representing 10% of the total shares offered, to individual subscribers. – TradeArabia News Service
