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Company News, Business

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East Pipes to list on TASI

Dammam-based East Pipes specializes in manufacturing steel pipes
By TRENDS Desk
February 13, 2022 11:21 pm
  • This came after the initial public offering of the company was 71.8 times oversubscribed, setting the final offer price at SR80 ($21.3)
  • SNB Capital, as the financial advisor of the offer, led the book-building process, which started on Jan. 11 and ran through Jan. 17

East Pipes Integrated Co. will be listed on Saudi Arabia’s main stock index, TASI, on Monday, Feb. 14, Saudi exchange said in a statement.

This came after the initial public offering of the company was 71.8 times oversubscribed, setting the final offer price at SR80 ($21.3) per share.

SNB Capital, as the financial advisor of the offer, led the book-building process, which started on Jan. 11 and ran through Jan. 17.

The offer comprised a total of 6.3 million shares.

Established in 2010, Dammam-based East Pipes specializes in manufacturing steel pipes.

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