ADES Holding, oil and gas driller in the Mena region, has set a price between 12.50 riyals ($3.33) to 13.50 riyals per share for its initial public offering.

 

The Capital Market Authority (CMA) on June 21 approved a company's application for registering its share capital and offering 338,718,754 ordinary shares. The sale of 101,615,626 existing shares by ADES Investments Holding, the Public Investment Fund (PIF), and Zamil Group Investment, and the issuance of 237,103,128 new shares for a public offering through a capital increase, will be conducted through a capital increase.

 

The final offer price of the Offer Shares will be determined at the end of the book-building period.-TradeArabia News Service