AL KHOBAR: United International Holding Company (“UIHC” or the “Company” or the “Issuer”), the parent company of United Company for Financial Services (“Tas’heel”) and Procco Financial Services W.L.L. (“Procco”) (to be referred to, together with its subsidiaries as the “Group”), one of the largest providers of Sharia-compliant consumer finance services in the Kingdom of Saudi Arabia (the “Kingdom”), today announces the price range for its initial public offering (“IPO” or the “Offering”), as well as commencement of the institutional book-building period for Participating Parties.

The price range for the Offering has been set between SAR 120 – 132 per share (the “Price Range”) which translates to an offering size between SAR 900 million and SAR 990 million, implying an equity value between SAR 3,000 million and SAR 3,300 million. The institutional book-building period will commence on 28 October 2024 and end on 5:00PM KSA time on 04 November 2024. The final price of the Offer Shares will be determined at the end of the book-building process.

The Offering proceeds after deducting IPO-related expenses will be distributed to United Electronics Co. (“eXtra”), the Selling Shareholder (the “Selling Shareholder” or “Substantial Shareholder”) in proportion to the number of Offer Shares to be sold by it in the Offering. The Company will not receive any portion of the Offering proceeds.

On 24 October 2024, the Selling Shareholder and UIHC entered into a binding undertaking with each of Zamil Group Investment Company, A.K. Al Muhaidib & Sons Company and The Company for Cooperative Insurance (Tawuniya) (together referred to as the “Cornerstone Investors”), through which each of the Cornerstone Investors have committed to subscribe for 390,625 shares at the IPO price (representing approximately 1.6% of the Company’s share capital and 5.2% of the IPO); the Cornerstone Investors have collectively committed to subscribe to 1,171,875 shares at the IPO price (representing approximately 4.7% of the Company’s share capital and 15.6% of the IPO).

For more information, visit: ipo.unitedholding.com.sa