Saudi Arabia: «Al Sharq Integrated Pipes» sets the price range for the offering

The “Sharq Integrated Pipes Industry” company in Saudi Arabia announced setting the price range for the offering and the start of the process of building the order book for the segment of the participating categories, and explained that determining the price range will be between 72 riyals and 80 riyals per share.

The company stated, according to the Saudi Press Agency (SPA), today, Tuesday, that the offering process is represented by 6 million and 300 thousand ordinary shares of the company’s shares, which represents 30% of the company’s issued capital, by selling the existing shares by the current shareholders in company.

She stressed that the minimum number of shares that can be subscribed to for the participating classes is 100 thousand shares, while the maximum is one million and 49 thousand and 999 shares.

She indicated that participation in order book building is limited to categories that are eligible to participate in the order book building process in accordance with the instructions for book building and allocating shares in initial subscriptions issued by the Board of the Capital Market Authority.

It is noteworthy that the process of building the order book for the institutions segment begins today and ends on January 17th.

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