ADES Holding sets IPO price range in Tadawul between SR12.5 ‎and 13.5 /share

Al-Ahly Financial Company announced in its capacity as the subscription manager, financial advisor, institutional subscription book manager, international coordinator and underwriter, and EFG Hermes Saudi Arabia, Goldman Sachs Saudi Arabia and JPMorgan Saudi Arabia in their capacity as financial advisors, subscription book managers, international coordinators and underwriters in the public offering The potential initial for ADES Holding Company (“ADES” or the “Company”) to determine the price range for the offering and to start the book-building process for the participating categories segment, as follows:

– The price range for the offering shares has been set between 12.5 riyals and 13.5 riyals per share (the “price range”)

The offering process consists of offering three hundred and thirty-eight million, seven hundred and eighteen thousand seven hundred and fifty-four (338,718,754) ordinary shares (representing thirty percent (30%) of the issuer’s capital after issuing new shares and increasing the company’s capital) “Offering Shares”)

– The minimum number of shares that can be subscribed to for the participating groups is one hundred thousand (100,000) shares, while the maximum is fifty-six million four hundred and fifty-three thousand one hundred and twenty-five (56,453,125) shares.

– Participation in book-building is limited to categories that are eligible to participate in the book-building process in accordance with the instructions for book-building and share allocation in initial public offerings issued by the Capital Market Authority.

The offering price will be determined after the completion of the book-building process, to be followed by the process of subscribing to the segment of individual subscribers. The number of offering shares that will be initially allocated to the participating classes is three hundred and thirty-eight million, seven hundred and eighteen thousand, seven hundred and fifty-four (338,718,754) offering shares. Representing 100% of the total offering shares, provided that the final allocation takes place after the end of the subscription period for individuals. In the event that individual subscribers subscribe to the entire offering shares allocated to them, the financial advisors have the right to reduce the number of shares allocated to the participating groups to three hundred four million eight hundred and forty-six thousand eight hundred and seventy-nine (304,846,879) shares, representing ninety percent (90%) of the total number of shares allocated to them. Total offering shares…

– The process of building the order book for the participating groups begins today, Sunday 02/25/1445 AH (corresponding to 09/10/2023 AD) until 2:00 pm KSA time on Thursday 02/29/1445 AH (corresponding to 09/14) / 2023 AD).