Saudi Tadawul Group Holding Company (STG) said that the final offer price for its initial public offering (IPO) has been set at SR105 ($28) per share, implying a market capitalization on the listing date of SR12.6 billion ($3.36 billion).

The IPO order book was 121 times oversubscribed with the book-building process generating an order book of SR458 billion.

The individual investor subscription period is scheduled to commence on November 30 and ends on 2 December 2.

On November 3, 2021, the Capital Market Authority (CMA) approved the company’s application for registration of its shares and offering of 36,000,000 ordinary shares, representing 30% of STG’s capital, by way of a sale of shares by the sole shareholder, the Public Investment Fund. – TradeArabia News Service