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 Follow us Follow on Google News Follow on Facebook Follow on Instagram Follow on X Follow on LinkedIn 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 Tabby raises $160m, becomes MENA’s most ‘valuable’ fintech LEAP 2025: AI data centre, key tech deals signed Sporting legends to join new SportsTech stage at LEAP 2025 LEAP unveils $1m prize pool for Rocket Fuel 2025 startup competition