Riyadh – Mubasher: Ataa Education Company will commence the book building for its initial public offering (IPO) on Thursday, 27 June in preparation for floating 12 million shares, equaling a 30% stake of the company’s SAR 400 million capital.

The final issue price will be defined after completing the book building process on Monday, 8 July, according to the company’s statement on Tuesday.

The company noted that the book building process targets providing institutional investors with full details about the company’s investments, operating and financial performance, track record, strategy, and future plans.

Interested investors can contact HSBC Saudi Arabia, the financial advisor and lead manager of Ataa’s IPO, the statement added.

Tarek Al Kasabi, CEO of Ataa Eduction, said that the IPO will help the company push ahead with its strategy to provide educational opportunities for more students in an attractive environment.