Alsaif Gallery determines final offering price at SR115 per share, covers institutional subscription by 1550%

Saudi Fransi Capital, the Financial Advisor, Lead Manager, Bookrunner, and Underwriter, of the Initial Public Offering (the “IPO”) for Al-Saif Stores for Development & Investment Company (“Alsaif Gallery” or “the Company”), announced on Monday the completion of the book-building process for the institutional tranche subscribed to the offered shares and the setting of the final offer price at SR115 per share, with a coverage ratio amounting to 1550% of the total offer shares.
Knowing that the participating entities have subscribed to the offered shares in full, as four million five hundred thousand (10,500,000) ordinary shares were allocated to them, representing 100% of the total shares offered for subscription as a first stage.
Upon the successful completion of the book-building process, as a second stage, four hundred and fifty thousand (1,050,000) ordinary shares, representing 10% of the total shares offered for subscription, will be allocated to individual subscribers as a maximum.
Saudi Fransi Capital, in its capacity as Lead Manager, has completed with the receiving banks, the Banque Saudi Fransi, and Saudi National Bank all necessary preparations for receiving subscriptions from the individual investors’ tranche, for two days commencing on Monday 05/12/2022 and ending on Tuesday 06/12/2022.