Riyadh –  United International Holding Company (UIHC) has completed the book-building process for participating parties, setting the final offer price for its initial public offering (IPO) at SAR 132 per share.

The offering is expected to imply a market cap of SAR 3.30 billion (nearly $880 million) at listing, according to a press release.

Meanwhile, the recorded orders during the institutional book-building hit SAR 131 billion ($35 billion), representing a coverage of 132 times.

The retail subscription period will last during 19-20 November 2024. Final allocations are planned to be unveiled on 25 November, with any refunds of excess subscription monies to be made by 28 November.

United International Holding, a United Electronics Company (eXtra) subsidiary, will float 7.50 million shares on the Saudi Exchange’s Main Market (Tadawul).

Last October, the group settled the price range for its IPO between SAR 120 and 132 per share after obtaining the approval of the Capital Market Authority (CMA) in June.

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