Falcom Financial Services, in its capacity as the financial advisor and lead manager for the potential offering of Al-Wasail Industrial Company on behalf of the company, announced the determination of the price range for its planned offering and the start of the book building period for qualified investors.
Falcom said, in a statement on “Saudi Tadawul”, today, Sunday, that the price range was set between 16 and 19 Saudi riyals per share.
The offering process consists of offering 2.5 million ordinary shares of the company’s existing shares, representing 10% of the company’s issued capital, which will be sold by the existing shareholders.
2.5 million ordinary shares, representing 100% of eligible investors, will be allocated.
The minimum number of shares that each qualified investor can subscribe to is 10 shares, while the maximum is about 1.25 million shares.
The book building process for Qualified Investors begins on December 26, 2021 and ends on December 30, 2021.