Saudi utility partly owned by Aramco and PIF sets IPO price range – Reuters.com
- Date: 09-Oct-2022
- Source: Reuters
- Sector:Oil & Gas
- Country:Saudi Arabia
Saudi utility partly owned by Aramco and PIF sets IPO price range – Reuters.com
DUBAI, Oct 9 (Reuters) - Saudi Arabia's Power and Utility Company for Jubail and Yanbu (Marafiq) has set the price range for its potential initial public offering at 41 to 46 riyals ($10.91-12.24) a share, HSBC said on Sunday.
HSBC and Riyad Capital are financial advisers, joint global coordinators and bookrunners on the IPO, which began book-building on Sunday for a roughly 30% free float of the company, HSBC said in a stock exchange filing.
Marafiq, which aims to list on Riyadh's Tadawul bourse, will sell 29.24% of its issued share capital, just over 73 million shares, by selling shares held by investors owning stakes of 5% or more.
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