Saudi Tadawul Group starts book building, sets IPO price range between SAR 95-105

Logo of Saudi Tadawul Group

SNB Capital, the lead manager, financial advisor, book-runner, global coordinator and underwriter; and JP Morgan Saudi Arabia and Citigroup Saudi Arabia, the financial advisors, book-runners, global coordinators and underwriters on the potential initial public offering (IPO) of Saudi Tadawul Group Holding Co. (Saudi Tadawul Group) announced the price range and the commencement of the participating parties book-building period.

The price range for the offering was set between SAR 95 and SAR 105 per share, according to a bourse filing.   

The book-building process will last for six days, from Nov. 21-26. Retail subscription period will start from Nov. 30 for a period of three days

According to data compiled by Argaam, Saudi Tadawul Group will offer 36 million shares in an IPO, representing 30% of its SAR 1.20 billion capital, divided into 120 million ordinary shares.

The company decided, in consultation with financial advisors, to increase the maximum number of shares that will be allocated to retail subscribers from 3.6 million shares, which is equivalent to 10% of the offered shares, to 10.80 million shares, which is equivalent to 30% of the total shares offered.

In April 2021, Tadawul announced its transformation into a holding group under the name of “Saudi Tadawul Group” ahead of the planned IPO this year.

The group includes four subsidiaries, namely, the Saudi Exchange, Securities Clearing Centre (Muqassa), Securities Depository Centre (Edaa) and Wamid.

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