AlBabtain launches IPO

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AlBabtain Food has 11 branches spread across the Kingdom, allowing the company to provide its customers with a high level of services in the region.
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  • The Riyadh-based firm will conduct a three-day offering period beginning Sunday, Sept. 25, and concluding on Wednesday, Sept. 28
  • The company is offering 544,000 ordinary shares, 16 percent of its capital, for subscription as it seeks to join the kingdom’s parallel Nomu market

Riyadh, Saudi Arabia— AlBabtain Food has set a price range of $18 to $21 per share of its initial public offer.

The Riyadh-based firm will conduct a three-day offering period beginning Sunday, Sept. 25, and concluding on Wednesday, Sept. 28, Yaqeen Capital, its financial advisor and lead manager, said in a bourse filing.

The company is offering 544,000 ordinary shares, 16 percent of its capital, for subscription as it seeks to join the kingdom’s parallel Nomu market.

AlBabtain Food has 11 branches spread across the Kingdom, allowing the company to provide its customers with a high level of services in the region.

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