RIYADH: East Pipes Integrated Co. has launched the book-building period of its initial public offering on the Saudi stock exchange today, the IPO book-runner said in a bourse statement.
SNB Capital, as the financial advisor of the offer, is in charge of handling the book-building process, which will run through Jan. 17, 2022.
The offer price range has been set at SR72-80 ($19-21) per share.
As many as 6.3 million shares will be offered during the period, representing 100 percent of the total offer.
Each subscriber will be allowed a maximum of 1.05 million shares, with a minimum subscription of 100,000 shares.
Upon completion of the book-building process, the listing of East Pipes is to take place on the main market TASI, after SNB Capital sets the final offer price.