https://arab.news/5xm9t
RIYADH: Nayifat Finance Company intends to proceed with an IPO and listing on the main market of the Saudi Exchange (Tadawul), HSBC Saudi Arabia said in a bourse filing.
HSBC is the financial advisor, lead bookrunner, lead manager and lead underwriter on Nayifat IPO.
The offering will comprise a sale of existing shares and result in a free float of 35 percent of the Company’s share capital.
Tadawul approved the company’s application for the listing of the shares on the main market on April 5, while the Capital Market Authority (CMA) approved the Company’s application for the IPO on 29 September.
The price at which all subscribers in the offering will purchase the shares will be determined after the bookbuilding period, the statement said.