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HSBC Saudi Arabia, in its capacity as the financial advisor, offering coordinator, subscription manager, institutional bookrunner and underwriter in the initial public offering on behalf of Saudi SAL Logistics Services Company “SAL”, announced the determination of the price range for the offering and the start of the book-building process period for the tranche. Institutions, as follows:
The price range was set between (98 – 106) riyals per share
The offering process consists of the sale of 24 million ordinary shares of the company’s shares (“offering shares”), which represents 30% of the company’s capital, by the company’s current shareholders.
The minimum number of shares that can be subscribed for by participating categories is 50,000 shares, while the maximum number is (3,999,999) shares.
Participation in the book-building process is limited to categories qualified to participate in the book-building process in accordance with the instructions for building the order book and allocating shares in initial public offerings issued by the Capital Market Authority Board.
The offering price for public subscription will be determined after the completion of the process of building the order book, followed by the individual subscription process. The number of offering shares that will be initially allocated to the participating categories is 24 million offering shares, representing 100% of the total offering shares. The final allocation shall be after the end of the individual subscription period. In the event that there is sufficient demand from individual subscribers, the manager of the institutional subscription registry has the right to reduce the number of offering shares allocated to participating categories to a minimum of 21.6 million shares, to represent 90% of the offering shares.
– The period for the process of building the order book for the institutional segment begins on Monday, September 25, 2023 AD, until 2:00 PM, Kingdom time, on Sunday, October 1, 2023 AD.