The Saudi Alamar Food Company announced the final price of its initial public offering (IPO) shares. The offering shares were priced at the upper end of the price range, at 115 Saudi riyals per share. This follows the successful completion of the book-building process for institutional investors.
The IPO order book was 47.5 times oversubscribed, according to a statement released by the company.
On June 20, Alamar’s IPO price range was set between 103-115 riyals per share.
The Individual Investor subscription period is scheduled to commence on 20th July 2022 and closes on 21st July 2022.
Moreover, Alamar will offer 10.634 million ordinary shares, or 41.7 percent of the company’s capital of 255 million riyals, by way of a sale of existing shares by the selling shareholders.
Within the institutional segment, the company had said that the minimum number of shares that can be subscribed to for the participating classes is 100,000 shares, while the maximum is about 1.275 million shares.
