Arab Drilling IPO price range set at (90-100) riyals per share‎

HSBC Saudi Arabia, NCB Capital and Goldman Sachs Saudi Arabia, in their capacity as the financial advisors, bookrunners and underwriters for the initial public offering (the “Offering”) of Arabian Drilling Company, announced the determination of the price range for the offering and the start of the period for the initial public offering (the “Offering”). The process of building the order book for the institutions segment is as follows:

– The price range has been set between (100 – 90) riyals per share.

The offering process is represented by offering (26,700,000) ordinary shares of the company’s shares (“Offering Shares”), which represents 30% of the capital after its increase, as the offering represents the sale of seventeen million seven hundred thousand (17,700,000) shares of Acceptance of TAQA and Schlumberger Petroleum (a subsidiary of Schlumberger Limited) (the “Selling Shareholders”), and the issuance of nine million (9,000,000) new shares.

Participation in order book building is limited to categories qualified to participate in the order book building 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 order book building process, to be followed by the individual segment’s subscription process. of the total offering shares, provided that the final allotment is after the end of the individual subscription period. In the event that individual subscribers subscribe to all the offering shares allocated to them, the subscription registry managers have the right to reduce the number of shares allocated to the participating classes to twenty-four million and thirty thousand (24,030,000) offering shares – as a minimum – representing 90% of the total offering shares. .

The period of the order book building process for the institutions segment begins on Wednesday, September 28, 2022 AD and ends on Wednesday, October 5, 2022 AD.

For more information, and to view the prospectus, please visit the website of the Capital Market Authority (www.cma.org.sa) and the company’s website (https://arabdrill.com)