Saudi Arabia's Fourth Milling Co sets IPO price range, to raise at least $216 mln
15/09/2024 06:46
DUBAI, Sept 15 (Reuters) - The price range for Saudi
Arabia's Fourth Milling Company's upcoming initial public
offering (IPO) has been set at between 5 riyals and 5.3 riyals a
share, according to a stock exchange filing on Sunday.
That would allow the company to raise between 810 million
riyals ($215.84 million) and 858.6 million riyals ($228.80
million) depending on the price.
The company said this month it planned to list a 30% stake,
comprising 162 million shares, on the Saudi bourse, adding to a
string of listings in the Gulf country.
The bookbuilding period for the IPO will run from Sept. 15
to Sept. 19, said the statement from Riyad Capital, the
company's financial adviser and lead manager.
($1 = 3.7527 riyals)
(Reporting by Rachna Uppal; Editing by Jamie Freed)
((rachna.uppal@thomsonreuters.com;))