Home GCC Saudi Arabia Saudi stock exchange sets IPO offer price at top end of range Tadawul set the price at SAR105 per share after an institutional book-building process by Bloomberg November 29, 2021 Saudi Tadawul Group Holding set the final price of its initial public offering at the top end of the range, giving the Riyadh-based bourse a valuation of SAR12.6bn ($3.4bn). Tadawul, as the exchange is known, set the price at SAR105 per share after an institutional book-building process, according to a statement. The coverage ratio amounted to 121 per cent of total shares on offer. At that price, the share sale will raise as much as $1bn for the exchange’s sole shareholder, the Public Investment Fund, from selling a 30 per cent stake. In November, Tadawul had set the price range at SAR95 to SAR105 a share. The offering comes amid an IPO boom, with companies around the world raising a record of more than $600bn this year. Against that backdrop, Saudi Arabia has been among the leaders in the Middle East, listing private and family-owned firms as well as companies such as ACWA Power International, backed by the kingdom’s wealth fund, and Saudi Telecom Co.’s internet-services unit. Tags Coverage Ratio IPO riyadh Share tadawul 0 Comments You might also like Fourth Milling Company to float IPO on Tadawul NMDC Energy’s $877m IPO oversubscribed 31.3 times Saudi Arabian Mills sets IPO price range, seeks to raise $271m A sneak peek at the keynote speakers of 24 Fintech 2024