Saudi IPO: SMASCO sets final offer price amid strong investor demand

Manpower solutions provider Saudi Manpower Solutions Company (SMASCO) has concluded its institutional bookbuilding process and announced the final offer price for its initial public offering (IPO) on the main market of the Saudi Exchange.

Following a successful bookbuilding phase, the company has determined the final offer price at SAR 7.5 per share, as it prepares to debut on the exchange.

With this valuation, SMASCO achieves a market capitalisation of SAR3bn (equivalent to approximately $800m) upon listing.

The price range for the offering had been initially set at SAR 7 to SAR 7.5.

The institutional bookbuilding process witnessed remarkable enthusiasm from investors, resulting in an impressive order book totalling approximately SAR115bn (equivalent to $31bn).

Read: Saudi Manpower Solutions Company gets CMA nod to list IPO on Tadawul

High investor demand for SMASCO IPO

Reflecting an oversubscription rate of 128 times, this demand underscores the robust investor appetite for SMASCO’s IPO and its potential for growth and profitability in the Saudi market.

SMASCO‘s IPO is poised to bolster the company’s position in the kingdom’s manpower solutions sector.

The strong investor interest reflects confidence in the company’s business model and its ability to capitalise on opportunities in the dynamic Saudi Arabian economy.