DUBAI, Sept 15 (Askume) – The price band for the upcoming initial public offering (IPO) of Saudi Arabia’s Fourth Milling Company has been set at 5 riyals per share, according to a stock exchange filing on Sunday.
This will enable the company to raise between 810 million riyals ($215.84 million) and 858.6 million riyals ($228.80 million), depending on the pricing.
The company said this month it planned to list 30% of its shares, including 162 million shares, on the Saudi Arabian Stock Exchange, another in a series of listings in the Gulf kingdom.
The bookbuilding period for the IPO will run from September 15 to September 19, Riyad Capital, the company’s financial adviser and lead manager, said in a statement.
(1 USD = 3.7527 Rials)
