Arabian Mills Shares Sizzle as Trading Begins: Investors Flock to Grab a Piece of the Action at 66 Riyals per Share

Arab Mills Company Shares Subscription Begins

Private subscription of Arab Mills Company shares for food products in the main market commenced on Wednesday and⁤ will conclude on Thursday, September 19, ⁣2024. The shares are priced at⁣ 66 riyals per share, with 1.53 million ordinary ​shares allocated to the highest individual category customers, representing 10% of the total shares ⁢offered for public subscription.

HSBC Saudi Arabia, acting as financial ⁢advisor, successfully coordinated the ⁣initial‍ public offering (IPO) of Arabian Mills‌ Food Products Company on September 11. The final ‍price for creating and pricing the order book ⁣for participating categories was 66 ‍riyals per share, with a coverage‌ ratio of 132 times the total shares.

The Capital Market Authority approved Arab Mills Food Products Company’s request to register shares in June, offering 15.39 million shares for‌ public​ subscription, representing 30% of the company’s total shares. A prospectus was published prior to the start ⁤of the subscription period.