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.