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Arabian Mills for Food Products Company (“Arabian Mills” or the “Company”), one of the market-leading flour milling companies in the Kingdom of Saudi Arabia (“KSA” or the "Kingdom"), announces today the successful completion of the institutional book building period for Participating Parties and the setting of the final offer price (the “Final Offer Price”) for its initial public offering (the “IPO” or the “Offering”). Image courtesy: Arabian Mills
Arabian Mills saw a 10% retail tranche subscribed 9.2 times as it completed the final leg of its SR1.02bn (US$271m) Tadawul IPO.
The tranche of just over 1.5m shares attracted SR930.6m of demand from 264,179 investors.
Shares previously priced at the top of a SR62–SR66 range after the institutional leg was covered 132 times, valuing the company at SR3.39bn.
HSBC was sole bookrunner.
Source: IFR
