Wednesday 19 January 2022

STG announces price range for IPO

RIYADH, November 21, 2021

Saudi Tadawul Group Holding Company (STG), a leading diversified capital market group in Mena, said that the  price range for its initial public offering (IPO)  has been set between SR95 ($25.3) and SR105 ($28) per share.

Offering details:

•    The total Offering size is expected to be between SR3,420,000,000 and SR3,780,000,000 The Offering is comprised of a sale of 36,000,000 shares by the Selling Shareholder
•    Immediately following the listing, the Company is expected to have a free float of 30% of the share capital of the Company
•    With respect to the Offering, the Company appointed SNB Capital Company (“SNB Capital”), J. P. Morgan Saudi Arabia Company (“J.P. Morgan”) and Citigroup Saudi Arabia (“Citigroup”) as Financial Advisors, Joint Global Coordiantors, Underwriters and Bookrunners (together, the “Bookrunners” or “Financial Advisors”).  The Company also appointed SNB Capital to act as Lead Manager.
•    The Saudi National Bank (SNB), Al Rajhi Bank, Riyad Bank, Alinma Bank, and Arab National Bank (ANB) have been appointed as receiving agents (collectively, the “Receiving Agents”) for the Individual Subscribers tranche.

 The Offering will be restricted to the following two groups of investors, Tranche (A)  Participating Parties (Institutional Investors) and Tranche (B) Individual Subscribers. – TradeArabia News Service


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