SAL Saudi Logistics Services Company sets price range of 98-106 riyals for IPO
The company is offloading 30% shares in the listing
Dubai: The price range for the initial public offering of SAL Saudi Logistics Services Company has been set between 98 and 106 Saudi riyals per share, it was announced on Monday.
With this, the total offering size is expected to be between 2,352 million and 2,544 million riyals, implying a market capitalisation at listing between 7,840 million riyals and 8,480 million riyals.
The cargo handler and logistics provider is planning to offload 30 per cent of its share capital in the listing – equivalent to 24,000,000 ordinary shares.
Of the total offering, a full 100 per cent will be offered to institutional investors. In case of sufficient demand from individual investors, the quota for institutional investors will be capped at 90 per cent, while the tranche for individual investors will have a 10 per cent ceiling.
Key dates:
Bidding and book-building: September 25 to October 1
Subscription window for individual investors: October 11 to October 13
Final allocation: No later than October 17
Refund of excess subscription: No later than October 24
Start of trading: Date to be announced