Riyad Capital in its capacity as the Financial Advisor, Bookrunner, Lead Manager, and Underwriter on the potential initial public offering of Elm Company announces - on behalf of Elm Company - the 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 (113) Saudi Riyals to (128) Saudi Riyal per share.
- Bidding and book-building period for Participating Entities, starts on Sunday, 23rd of January 2022 and ends at 3pm on Friday, 28th of January 2022.
-The Offering comprised of (24,000,000) ordinary shares, representing 30% of the Company’s issued share capital, by way of a sale of existing shares by the existing shareholders.
- The minimum number of Offer Shares to be applied for by participating entities is (100,000) shares, while the maximum number of shares is (3,999,999) shares.
- The participation in the book-building process confined to the participating parties 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 price per Offer Share will be determined after the completion of the book-building process, followed by the Individual Investors subscription process, the number of Offer Shares to be provisionally allocated to Participating Parties is (24,000,000) Offer Shares, representing 100% of the total Offer Shares. The final allocation of the Offer Shares will be made after the end of the subscription period for Individual Investors. If Individual Investors subscribe for all the Offer Shares allocated thereto, which represent 30% of Offer Shares (7,200,000 shares), the Bookrunner shall have the right to reduce the number of shares allocated to Participating Parties to a minimum of (16,800,000) Offer Shares, representing 70% of the total Offer Shares. For More Information on the Prospectus, please visit: