Tadawul Group Stock Price Determined, at SR95-105

The range for stock price of Tadawul Group, was set at SR95-105 per share (the “Price Range) NCB Capital announced, as the lead manager, financial advisor, corporate bookrunner, international coordinator and underwriter of the Tadawul Group IPO.

In addition to JPMorgan Saudi Arabia and Citigroup Saudi Arabia as financial advisors, bookrunners, international coordinators and underwriters for the potential initial public offering of Saudi Tadawul Holding Group (the “Company”), or “Saudi Tadawul Group”) for determining the price range of the offering and starting the process of building the order book, for the segment of participating categories.

Determining the price range for the Tadawul Group’s subscription, the offering details and schedule, have all but added much more credibility for the analyzes previously conducted by ” Maaal” for the subscription of the Saudi Tadawul Group.

It is widely expected to offer 36 million of its shares for public subscription this month, and the expected price of the company’s shares to be offered to investors, will be close to 90-100 riyals (+ or -), as Maaal predicted.

Where the group is expected to seek to raise about SR3.5 billion (+ or -) from the initial offering, in the Saudi exchange, it is also expected to be completed, at the end of this month, which means that the share price may, precisely, fall in accordance with “Maaal” estimates, at SR97.

• The offering process is represented by offering thirty-six million (36,000,000) ordinary shares of the company’s shares (“Offering Shares”), which represents 30% of the issued capital of the company, through selling existing shares by the current shareholder of the company’s shares.

The minimum number of shares that can be subscribed for the participating classes,  is set to be one hundred thousand (100,000) shares, while the maximum is five million nine hundred and ninety-nine thousand nine hundred and ninety-nine (5,999,999) shares.

• Participation, in order book building, is limited to categories qualified to the process, in accordance with the instructions for book building and allocating shares, in initial subscriptions issued by the Board of the Capital Market Authority.

The price of the offering will be determined for public subscription, after the completion of the process of building the order book, to be followed by the process of subscribing to the individual subscribers’ segment.

The final allotment shall be after the end of the individual subscription period.

 In case that individuals subscribe to all the offering shares allocated to them, the subscription registry manager has the right to reduce the number of shares allocated to the participating classes, to twenty-five million two hundred thousand (25,200,000) offering shares – as a minimum – representing 70% of the total offering shares.

The period of the process of building the order book for the institutions segment, begins on November 21, 2021 and ends on November 26, 2021.