Salem Radio Network News Monday, December 6, 2021

Business

Saudi bourse operator sets price range for up to $1 billion IPO

DUBAI (Reuters) – Saudi Tadawul Group, the kingdom’s stock exchange operator, has set an indicative price range for its initial public offering which shows it could raise up to 3.78 billion riyals ($1.01 billion) in the deal.

Saudi Tadawul plans to sell 36 million shares in the price range of 95 riyals to 105 riyals a share, it said in a stock exchange filing.

The final price will be determined after the completion of the book-building process, which begins on Sunday and ends on November 26.

($1 = 3.7504 riyals)

(Reporting by Saeed Azhar; Editing by Michael Perry)

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