Stock Groups

Saudi bourse operator sets price range for up to $1 billion IPO -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. A Saudi woman poses at the Saudi Stock Market (Tadawul) in Riyadh Saudi Arabia, March 9, 2020. REUTERS/Ahmed Yosri/File Photograph

DUBAI (Reuters – Saudi Tadawul Group is the stock exchange operator in Saudi Arabia. It has established an indicative price range that could allow it to raise as much as 3.78 billion riyals ($1.01 Billion) through its initial public offer.

Saudi Tadawul intends to sell 36,000,000 shares at a price of 95 to 105 Rials per share. This was disclosed in a filing to the stock exchange.

Final price will be decided after completion of book-building, which began on Sunday and concludes on November 26.

($1 = 3.7504 riyals)

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