- RIYADH: Saudi-based Al-Khodari and Sons Co.
- will sell shares to the public at SR48 ($12.80) each, valuing the contractor at SR2.04 billion ($544 million), a lead manager official said on Tuesday.
"The book-building process has valued Al-Khodari's shares at SR48 each, which is at the bottom of the SR48-SR51 offered range," said the official. An official at Riyadh-based GIB Financial Services said in July that family-owned Al-Khodari would sell 12.75 million shares, or 30 percent of its capital, to the public over the Oct. 4-10 period.