Bankers estimated the issue price of Electrical Industries at SAR 45 and SAR 54 per share, according to Al-Jazirah Arabic newspaper.
The company will float 30% of its capital for seven days starting from November 11.
Electrical Industries will issue 13.5 million shares at a par value of SAR 10 each.
According to the subscription prospectus, the IPO will take place in two tranches. The first one includes institutions such as investment funds, and 13.5 million shares, or approx. 100% of the total offered shares, will be allocated to them. The second tranche is for Saudi individual investors, and a maximum of 6.75 million shares, or 50% of the total shares, will be allocated to them.
The company reported SAR 55.5 million earnings (SAR 1.23 per share) for Q1 2014, compared with SAR 50.4 million in the year-earlier period.
The company will float 30% of its capital for seven days starting from November 11.
Electrical Industries will issue 13.5 million shares at a par value of SAR 10 each.
According to the subscription prospectus, the IPO will take place in two tranches. The first one includes institutions such as investment funds, and 13.5 million shares, or approx. 100% of the total offered shares, will be allocated to them. The second tranche is for Saudi individual investors, and a maximum of 6.75 million shares, or 50% of the total shares, will be allocated to them.
The company reported SAR 55.5 million earnings (SAR 1.23 per share) for Q1 2014, compared with SAR 50.4 million in the year-earlier period.
Source:
Mubasher
