SMEH of Saudi Arabia fixes price range for IPO

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The Saudi Stock Exchange's general index fluctuated this week, recording its lowest level since January and ending the week down by nine points.
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  • The book-building period for participating entities will run from Jan. 17 to Jan. 27, 2022, a bourse statement by the offering’s book-runner, Alistithmar Capital, revealed
  • Shares devoted to participating entities will stand at 6 million shares, representing the full offering of 30 percent of the company’s capital

Scientific and Medical Equipment House of Saudi Arabia has set a price range between$12-13.9 per share for its offer amid a prospective IPO on Saudi Arabia’s main index, TASI.

The book-building period for participating entities will run from Jan. 17 to Jan. 27, 2022, a bourse statement by the offering’s book-runner, Alistithmar Capital, revealed.

Shares devoted to participating entities will stand at 6 million shares, representing the full offering of 30 percent of the company’s capital.

As per the statement, members of the eligible party are to subscribe to a minimum of 100,000 shares, limited to a maximum of 999,999 shares.

The final offer price will be finalized upon completion of the book-building process.

The decision to list comes as the company aims to strengthen its position in the Kingdom’s operations, maintenance, and healthcare sector, SMEH’s chairman, Basel bin Saud Al Arifi, said in a statement earlier this month.

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