Saudi's Amlak International Reveals Share Pricing Ahead Of IPO
Saudi Arabia-based Amlak International is to offer shares at SAR16 ahead of the real estate financing company’s IPO on the Saudi stock exchange (Tadawul).
NCB Capital, financial advisor, lead manager, bookrunner and underwriter for the IPO, announced the successful completion of the book building process for institutions and investment funds subscribing to the company’s shares, with the coverage ratio reaching 500 percent.
Public and private funds and DPMs amounted to 43.4 percent, while Saudi listed companies, insurance companies, private companies, endowments and QFIs, reached 56.6 percent of the coverage.
The IPO is to launch on Thursday (July 2) and will be completed by the end of Sunday (July 5).
Established in 2007, Amlak International is a Saudi non-bank real estate finance company licensed by the Saudi Arabian Monetary Authority in 2013 to provide Sharia-compliant real estate financing solutions.
The deal will represent the exchange’s first IPO since the onset of the coronavirus.
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