Riyadh – Mubasher: The price range for the initial public offering (IPO) of East Pipes Integrated Company for Industry has been announced at SAR 72-80 per share, according to a bourse filing on Tuesday.

The bidding and book-building period for participating investors will be during 11-17 January, which will be followed by determining the final IPO price.

East Pipes Integrated is offering 6.3 million shares, representing 30% of its capital, by way of selling existing shares by the current shareholders, SNB Capital said.

Participating entities can subscribe to a minimum number of 100,000 offer shares, while the maximum number of shares is 1.04 million.

It is worth noting that SNB Capital acts as the IPO’s financial advisor, bookrunner, lead manager, and underwriter.