NCB Capital, in its capacity as a financial advisor, bookrunner, lead manager and underwriter in the potential public offering of East Integrated Pipes Company for Industry, announces the determination of the offering price range and the start of the book building process for the segment of the participating classes.
The price range for the offering shares was set between 72 riyals and 80 riyals per share, according to a company statement on the Saudi Tadawul market today, Tuesday.
The offering process is represented by offering 6,300,000 ordinary shares of the company’s shares, which represents 30% of the company’s issued capital, by selling the existing shares by the current shareholders of the company.
The minimum number of shares that can be subscribed to for the participating classes is one hundred thousand shares, while the maximum is one million forty-nine thousand and nine hundred and ninety-nine (1,049,999) shares.
Participation in order book building is limited to categories qualified to participate in the order book building process in accordance with the instructions for book building and allocating shares in initial subscriptions issued by the Board of the Capital Market Authority
The price of the offering will be determined for public subscription after the completion of the process of building the order book, to be followed by the process of subscribing to the individual subscribers segment. The final allotment shall be after the end of the individual subscription period.
In the event that individual subscribers subscribe to all the offering shares allocated to them, the subscription registry manager has the right to reduce the number of shares allocated to the participating classes to five million six hundred and seventy thousand (5,670,000) offering shares – as a minimum – representing 90% of the total offering shares.
The period of building the order book process for the institutions segment begins on January 11, 2022 and ends on January 17, 2022.