East Pipes launches retail subscription in its shares Monday

SNB Capital in its capacity as the Financial Advisor, Bookrunner, Lead Manager, and Underwriter on the initial public offering (‘the Offering’) of East Pipes Integrated Company for Industry (the “Company”) has announced that that the retail investors will start today subscribing to six hundred and thirty thousand (630,000) shares representing 10% of the Company total offer shares.

The offer price has been set at (80) Saudi Riyals per share and has been determined during the book building process.  The retail subscription period will continue until the end of Tuesday, 25/01/2022.

SNB Capital announced previously the completion of the book-building process for the participating parties’ tranche with coverage of (71.8x) of the total offer shares. It pointed out that it has finalized in cooperation with the receiving agent, the Saudi National Bank, all the preparations required to carry out the retail subscription process.