‎Luberef IPO price range set at SAR 91-99 per share

‎Luberef IPO price range set at SAR 91-99 per share

SNB Capital, the lead manager, financial advisor, book-runner, global coordinator and underwriter, as well as Citigroup Saudi Arabia, HSBC Saudi Arabia, and Morgan Stanley Saudi Arabia in their capacity as financial advisors, book-runners, global coordinators and underwriters on the potential initial public offering (IPO) of Saudi Aramco Base Oil Co. (Luberef) announced that the price range was set between SAR 91 and 99 per share.

The book-building process for participating parties commences today, Dec. 4 and runs until Dec. 9. After determining the final price, the retail subscription will start. The final offering price will be announced on Dec. 11, after the end of the book-building period. It will last five days, from Dec. 14-18.

The offering price will be set after the completion of the book-building, to be followed by the retail subscription.

The participation in the book-building is confined to the participating parties, in accordance with the instructions of the book-building and allocation issued by the Capital Market Authority (CMA).

Luberef intends to proceed with the IPO and listing of its ordinary shares on the main market of the Saudi Exchange (Tadawul), according to data available with Argaam.

The company obtained on Nov. 24 the Capital Market Authority’s (CMA) approval on the listing.

The