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Saudi Arabia aluminium producer Al Taiseer Group Talco Industrial Company (Talco), which is listing 30% stake on Riyadh's Tadawul stock exchange following an IPO, has set the final offer price at SAR 43 ($11.46) per share, potentially raising SAR 516 million ($137.6 million).
The company, which is selling 12 million shares, has completed the book-building process for insitutional investors, which saw a coverage of 68.5x of the total offer shares, lead manager and financial adviser to the issuance, Alinma Investment Company, said in a statement on the Tadawul bourse on Monday.
The book-building process for retail investors will run for a two-day period beginning Tuesday, 28 May, during which they can subscribe to a maximum of 10% of the shares. The final share allocation is set for Sunday, 2 June.
(Writing by Brinda Darasha; editing by Seban Scaria)
