Saudi Arabia’s BinDawood Holding sets IPO price range

SourceZawya
SectorFinancial Markets
CountrySaudi Arabia

Saudi Arabia's BinDawood Holding sets IPO price range Immediately following listing, the company is expected to have a free float of 20% of the entire issued share capital of the company    Traders work at the Alistithmar Capital in Riyadh July 8, 2008. The company plans to offer 22.86 million existing shares at an indicative pricing of between $22.44 and $25.64 (SR84 to SR96) per share in the planned IPO, according to a regulatory filing on Sunday. It targets a valuation of between $2.56 billion and $2.94, according to Reuters calculations.The IPO will comprise an offer of 22,860,000 Offer Shares to institutional investors entitled to participate in the book-building process based on the Price Range in accordance with the Capital Market Authority (CMA) instructions on bookbuilding and allocation of shares ...read more...