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An Al-Dawaa pharmacy store in Saudi Arabia.
By TRENDS Desk
February 13, 2022 5:58 pm
  • The company earlier announced it was offering 25.5 million shares in an IPO, or 30 percent of its capital of SR850 million through a sale by existing shareholders
  • Institutional subscription has also started on Sunday, where they are initially allocated 100 percent of the offering

Al-Dawaa, a pharmaceutical retail firm in Saudi Arabia, has set the price range for its initial public offering at SR65 ($17.3) to SR73 per share.

The company earlier announced it was offering 25.5 million shares in an IPO, or 30 percent of its capital of SR850 million through a sale by existing shareholders.

Institutional subscription has also started on Sunday, where they are initially allocated 100 percent of the offering, but could go down to 90 percent, Al-Dawaa said in a statement.

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