Announcement of the Price Range and start of Institutional Book-building period for the initial public offering of Saudi Aramco Base Oil Company - Luberef
| Element List | Explanation |
|---|---|
| Announcement Detail | SNB Capital in its capacity as the Lead Manager, Financial Advisor, Book-runner, Global Coordinator and Underwriter, Citigroup Saudi Arabia, HSBC Saudi Arabia, and Morgan Stanley Saudi Arabia in their capacity as Financial Advisors, Book-runners, Global Coordinators and Underwriters on the potential initial public offering of Saudi Aramco Base Oil Company - Luberef (“Luberef” or the “Company”) announces the price range, as well as the commencement of the Institutional book-building period; as per the following details:
• The price range for the Offering has been set between SAR 91 and SAR 99 per share (the “Price Range”)
• The Offering is comprised of a sale of fifty million forty-five thousand (50,045,000) ordinary shares, representing 29.6562963% of Saudi Aramco Base Oil Company – Luberef’s issued share capital, by the Selling Shareholder
• The minimum number of Offer shares to be applied for by the Participating Parties is fifty thousand (50,000) shares, while the maximum number of shares is eight million four hundred thirty-seven thousand four hundred ninety-nine (8,437,499) shares
• The participation in the book-building process is confined to the Participating Parties in accordance with the Instructions for Book Building Process and Allocation Method in Initial Public Offerings issued by the Board of the Capital Market Authority
• The final price per Offer Share will be determined after the completion of the book-building process, to be followed by the Individual Subscribers subscription process, the number of Offer Shares to be provisionally allocated to Participating Parties is fifty million forty-five thousand (50,045,000) Offer Shares, representing 100% of the total Offer Shares. Final allocation of the Offer Shares will be made after the end of the subscription period for Individual Investors. In the event that Individual Subscribers subscribe for all the Offer Shares allocated thereto, the Bookrunners shall have the right to reduce the number of shares allocated to Participating Parties to a minimum of thirty-seven million five hundred thirty-three thousand seven hundred fifty (37,533,750) shares, representing 75% of the total Offer Shares
• The book-building process for Participating Parties commences today, Sunday 4 December 2022G, and lasts for a period of six days ending on Friday 9 December 2022G. The final pricing of the Offering shares will be announced on Sunday 11 December 2022G, after the end of the book-building period. After the determination of the final price, the individual investors’ subscription period will start. The offering period for Individual Investors will be for five days, commencing on Wednesday 14 December 2022G and ending at 5 pm on Sunday 18 December 2022G
For more information, and for the prospectus, please visit the Capital Market Authority website (www.cma.org.sa) and the Company website (www.luberef.com) |
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