Riyadh - Mubasher: The price range of Amlak International for Real Estate Finance’s offer shares has been set between SAR 15 and SAR 17, announced Amlak International and the initial public offering's (IPO) financial advisor, bookrunner, underwriter and lead manager, NCB Capital Company.
The book building process will take place on Monday, 22 June, until Monday, 29 June, with the aim to offer Amlak International’s shares for public subscription, according to a press release on Sunday.
The final share price will be set after the completion of Amlak International’s IPO book building process, which targets two investor groups.
The Institutional group includes “investment funds, companies and qualified foreign investors, GCC investors that are considered as legal personalities, authorised individuals to deal in securities as principals, companies in the banking and insurance sectors, directors of companies’ portfolios listed in the financial market, and unlisted Saudi companies under the conditions established by the IPO Prospectus,” the statement noted.
Moreover, the Individuals group comprises “Saudi citizens, including divorced Saudi women or widows who have minor children from a non-Saudi husband, any ordinary non-Saudi resident who has a bank account with one of the receiving parties, in addition to individual GCC investors.”
The four-day subscription process for the participating entities during the IPO period, which includes individual subscribers, commences on Thursday, 2 July. The period includes the closing day of the IPO ending on Sunday, 5 July.
Furthermore, NCB Capital said that all of the offered shares, 27.180 million, will be allocated to the participating institutions and investment funds that represent 100% of the total shares offered.
However, if there is sufficient demand from individual subscribers, the IPO’s Lead Manager has the right to reduce the number of allocated shares to the participating entities to 24.462 million shares or 90% of the total shares offered, and offer a maximum of 2.718 million shares or 10% of the total shares offered to individual subscribers, subject to the approval of the Capital Market Authority (CMA).
