Logo of Arabian Contracting Services Co. (Al Arabia) 

GIB Capital, the bookrunner of Arabian Contracting Services Co.'s (Al Arabia) initial public offering (IPO), announced that the offering price range was set at SAR 90-100 per share, according to a bourse statement.

 

The bidding and book-building period for participating parties starts today, Oct. 10 until Oct. 19.

 

The company will float 15 million ordinary shares, representing 30% of its share capital, which will be sold by the shareholders - Abdelellah Abdulrahman Al-Khereiji and Engineer Holding Group Co.

 

The retail offering will run from Oct. 26 to 29.

 

IPO Summary

Issue percentage

30%

Number of shares offered

15 mln

Qualified subscribers

- Participating categories include investment funds, qualified foreign investors (QFIs), legal entities and GCC investors.

-Retail investors

IPO minimum size for retail investors

10 shares

IPO minimum size for institutional investors

100,000 shares

IPO maximum size for retail investors

300,000 shares

IPO maximum size for institutional investors

2,499,999 shares

Registering requests and book building period

Oct. 10 – 19

Retail offering period (3 days)

Oct. 26 -28

Final allocation of IPO shares

Nov. 4

Surplus refund

Nov. 4

Use of proceeds

The net proceeds, after deducting all the offering expenses amounting to SAR 35 million, will be distributed to selling shareholders, according to their ownership percentage in the offering. The company will not receive any part of the proceeds.

 

For More IPOs

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