Saudi water major Miahona plans IPO

Saudi water major Miahona plans IPO

A water and wastewater infrastructure operator that pioneered the public-private partnership model in Saudi Arabia is planning an IPO that will put 30 percent of its shares on the market. Miahona Company intends to list on the main market of the Saudi Exchange after receiving approval from the Capital Market Authority last month. The company […]

30% of shares to be floated

20% offered to retail investors

Offer price to be determined

A water and wastewater infrastructure operator that pioneered the public-private partnership model in Saudi Arabia is planning an IPO that will put 30 percent of its shares on the market.

Miahona Company intends to list on the main market of the Saudi Exchange after receiving approval from the Capital Market Authority last month.

The company said it will offer more than 48 million shares through the sale of existing shares held by Vision Invest. All will be offered to institutional investors, with 20 percent then clawed back to be offered to retail investors.

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The final share offer price will be determined after the book-building period, which will start on Sunday.

Riyadh-based Miahona is involved in the complete water value chain including water production and distribution,