DUBAI: Saudi advertising firm Alarabia has set the price range for its initial public offering at SR90 ($24) to SR100 per share, according to a stock exchange filing.
Bidding and book-building process for institutional investors have started on Sunday, where 90 percent of the total shares offered will be available for subscription.
The company, which is partly owned by the Middle East Broadcasting Company (MBC), is offering 15 million shares of 30 percent of its share capital through the IPO.
