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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

ADC sets price for IPO

The retail subscription to 2.76 million shares, or 10 percent of the shares offered, will run from Oct. 18 to Oct. 19. (The World Economic Forum)
By TRENDS Desk
September 28, 2022 4:01 pm
  • the process for institutional investors, which will end on Oct. 5, will be led by HSBC Saudi Arabia, Goldman Sachs Saudi Arabia, and SNB Capital
  • ADC is offering 30 percent of its capital, representing 26.7 million, and will list on Nomu

Riyadh, Saudi Arabia— Arabian Drilling Company (ADC) has set a price range for an IPO at $24-$27 per share, starting off the book-building period on Wednesday.

According to a bourse filing, the process for institutional investors, which will end on Oct. 5, will be led by HSBC Saudi Arabia, Goldman Sachs Saudi Arabia, and SNB Capital.

ADC is offering 30 percent of its capital, representing 26.7 million, in an attempt to join Nomu’s parallel market.

The retail subscription to 2.76 million shares, or 10 percent of the shares offered, will run from Oct. 18 to Oct. 19.

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