‎Luberef issues prospectus to list 50.04 mln shares on Tadawul

‎Luberef issues prospectus to list 50.04 mln shares on Tadawul

Saudi Aramco Base Oil Co. (Luberef) issued today the prospectus to list 50.04 million shares on the Saudi Exchange (Tadawul).

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

The planned-to-be-offered stake represents 29.66% of the company’s share capital reaching 168.75 million shares (SAR 1.687 billion).

Subscription for the retail tranche will run during the period Dec. 14-15, 2022, to be preceded by book building process that will run for six days from Dec.4-9, 2022.

The offered shares will be to two categories:

Participating parties: Those who are qualified to participate in the book building process, including investment funds. Foreign companies and institutions, investors from GCC companies, and other foreign investors by virtue of swap agreements, to which all offered shares (100%) were allocated. In the event that retail investors fully subscribe to their allocated shares, the financial advisor will have the right to reduce the number of their allocated shares to 75% of total offered shares, at 37.53 million as a minimum.

Retail investors: Saudi nationals, residents in the Kingdom, nationals of GCC states, to which 25%, or 12.51 million shares were allocated.

Established in 1976, the company currently has two production facilities, one in Jeddah and the other in