Al Rajhi Capital: AMAK Price Range Offering between SR58-63 per Share

Al Rajhi Capital – in its capacity as the Financial Advisor, Book runner, Lead Manager, and Underwriter on the initial public offering of Al Masane Al Kobra Mining Company (the “Company” or “AMAK”) (the “Offering”) – announced on Wednesday on behalf of the Company the Offering’s price range, as well as the commencement of the institutional book-building period; as per the following details:

– The price range for the Offering has been set at fifty-eight (58) Saudi Riyal to sixty-three (63) Saudi Riyal per share (the “Price Range”).

– The book-building period for participating entities extends to seven (7) days which: starts on Wednesday 23rd of February 2022 and ends on Tuesday 1st of March 2022.

-The Offering is comprised of nineteen million eight hundred thousand (19,800,000) ordinary Company shares offered (the “Offer Shares”), representing 30% of the Company’s share capital following the capital increase, by (1) the sale of ten million one hundred twenty-eight thousand eight hundred and sixty-five (10,128,865) shares by the current Company shareholders, and (2) the issuance of nine million six hundred and seventy-one thousand one hundred thirty-five (9,671,135) new shares.

– The minimum number of Offer Shares to be applied for by participating entities is one hundred thousand (100,000) shares, while the maximum number of shares is three million, two hundred ninety-nine thousand nine hundred ninety-nine (3,299,999) shares.

– The participation in the book-building process is limited to eligible participating entities in accordance with the Instructions for Book Building Process and Allocation Method in Initial Public Offerings issued by the Board of the Capital Market Authority.

– The final Offering price will be determined after the completion of the book-building process, to be followed by the individual investors subscription process, and the number of Offer Shares to be provisionally allocated to participating entities is nineteen million eight hundred thousand (19,800,000) Offer Shares, representing 100% of the total Offer Shares. Final allocation of the Offer Shares will be made after the end of the subscription period for individual investors. In the event that individual investors subscribe for all the Offer Shares allocated to them, which represent 30% of Offer Shares (5,940,000 Offer Shares), the Book runner shall have the right to reduce the number of shares allocated to participating entities to a minimum of thirteen million eight hundred sixty thousand (13,860,000 Offer Shares), representing 70% of the total Offer Shares.