Abdulaziz & Mansour Ibrahim AlBabtain Co.’s initial public offering price range has been set at SR68-77 ($18-21) per share.
The Riyadh-based firm will conduct a three-day offering period beginning Sunday, Sept. 25, and concluding on Wednesday, Sept. 28, Yaqeen Capital, its financial advisor and lead manager, said in a bourse filing.
The company, known as AlBabtain Food, is offering 544,000 ordinary shares, 16 percent of its capital, for subscription as it seeks to join the Kingdom’s parallel Nomu market.
AlBabtain Food has 11 branches spread across the Kingdom, allowing the company to provide its customers with a high level of services in the region.