‎Marafiq issues prospectus for 29.24% IPO on Tadawul

‎Marafiq issues prospectus for 29.24% IPO on Tadawul

Power and Water Utility Company for Jubail and Yanbu (Marafiq) issued today the prospectus for offering 73.09 million shares, or 29.24% of capital, on the Saudi Exchange (Tadawul).

The Capital Market Authority (CMA) approved, on Sept. 26, the application received from the company for the registration and offering of 73.09 million shares, or 29.24% of capital.

The period for registering requests and book building will run for six days from Oct. 9-14, 2022.

Subscription period for retail investors will begin on Oct. 26, and run for four days.

Participating parties: This tranche comprises the parties entitled to participate in the book building process as specified under the book building instructions. The number of shares that will be allocated initially is 73.09 million, representing 100% of the total IPO. Final allocation of the offer shares will be made after the end of the subscription period for individual investors. The lead managers shall have the right to reduce the number of shares allocated to participating parties to 51.17 million shares, representing 70% of the total offer shares.

Individual investors: This tranche comprises Saudi Arabian natural persons, in addition to any non-Saudi natural person who is resident in the Kingdom or any GCC natural persons, provided they have