‎AlBabtain Food starts book-building for IPO, sets price range at SAR 68-77

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Saudi Arabia

‎AlBabtain Food starts book-building for IPO, sets price range at SAR 68-77

Abdulaziz & Mansour Ibrahim AlBabtain Co. (AlBabtain Food) announced the price range and the start of the participating parties’ book-building period for its initial public offering (IPO), according to a bourse statement today, Sept. 25.

The price range for the offering was set between SAR 68 and SAR 77 per share, Yaqeen Capital, financial advisor and lead manager to the IPO, said in the statement.

The book-building period for participating parties will run through Sept. 25-28.

On June 29, the Capital Market Authority (CMA) approved the company’s request to offer 544,000 shares, or 16% of capital on Nomu-Parallel Market, Argaam reported.