PIF completes building order book to sell a 10% stake in ‎‎“Tadawul”, sets final price at SR191/share

The Public Investment Fund announced today the successful completion of the book-building process for institutional investors to sell a 10% stake in the Saudi Tadawul Group Holding Company “Tadawul” and set the final price at 191 riyals per share.

The offering represents the sale of 12 million shares in the Saudi Tadawul Group Holding Company, which represents 10% of the company’s total capital (the offering), and the final price of the offering shares was set at 191 Saudi riyals per share based on the results of the book building process, equivalent A discount rate of 8.9% compared to the stock’s closing price on Thursday, November 10, 2022 (the last trading day before the offering was announced).

The offering was successfully covered by local and foreign institutional investors, and the fund’s ownership will become 60% of the company’s total capital after the offering. The remaining shares in the Saudi Tadawul Holding Group Company, owned by the fund, are subject to a 90-day ban period, and HSBC Saudi Arabia and Morgan Stanley Saudi Arabia have been appointed as joint global coordinators for the selling shareholder and jointly with Al Rajhi Capital as bookrunner institutions for the selling shareholder.

The sale process will be executed through Negotiated Deals outside the market on Sunday, November 13, 2022 AD, before the opening of the market, according to the negotiated mechanism stipulated in the trading and membership procedures issued by the Saudi Tadawul.