Riyadh – Naqi Water Company has set the final price for its initial public offering (IPO) on the main market of the Saudi Stock Exchange (Tadawul) at SAR 69 per share.
Al Jazira Capital, the financial advisor and lead manager for the IPO, noted that the bookbuilding process for the participating parties’ tranche was 30.3 times oversubscribed, according to an IPO filing.
In the meantime, the subscription period for private investors will take place on July 27-28. The company will offer a maximum of 600,000 shares to retail investors, representing 10% of the total IPO shares.
Last June, Naqi Water announced its intention to list 6 million common shares, representing 30% of its share capital, in Tadawul.
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