East Pipes Plans to Proceed with IPO of its Shares on Main Market

SNB Capital Company in its capacity as the Financial Advisor, Bookrunner, Lead Manager, and Underwriter on the potential initial public offering of East Pipes Integrated Company for Industry (the “Company”) announces the Company’s intention to proceed with the initial public offering and listing of its ordinary shares (“Shares”) on the Main Market of the Saudi Exchange.

The offering is expected to comprise a sale of existing Shares and result in a free float of 30 per cent. Saudi Exchange approved the Company’s application for the listing of the Shares on the Main Market on 08 August, 2021G and the Capital Market Authority (“CMA”) approved the Company’s application for the initial public offering of 6,300,000 ordinary shares (representing 30% of the Company’s share capital) on 29 September 2021.

The price at which all subscribers in the Offering will purchase the Shares will be determined at the end of the book-building period.