Markets
Announces IPO subscription coverage of 62.7 times
Oil at $94 meet inflation concerns and interest rate decisions
To showcase compelling Saudi equities to global investors
Company aimed to achieve SAR1 bn in revenues prior share offering
June saw Saudi Arabia hosting the Arab-China Business Conference
The IPO of ADES comprises an offer of 338,718,754 ordinary shares
Investors urged to take advantage of growth potential
Bonds might be issued before year-end
$888 mn market capitalization achieved by company after listing
IPO could raise as much as SAR 1.26 bn
Company achieved steady sales growth in 2021 and 2022
Offering expected to be the world's largest in recent years
Cornerstone investors agreed to subscribe
Bonds comprise 3 tranches with tenors of 7, 12, and 30 years
The IPO on Saudi bourse Tadawul will be 50.045 mn shares
Price guidance set at 105 basis points over Treasuries for the Sukuk
Offering will correspond to a 29.24% of the company's shares on Tadawul
Its market value reached about $2.8 trillion in 2021
Single-stock futures will allow for more efficient portfolio risk management
The IPO order book was 47.5 times oversubscribed
Alamar to raise about 1.2 billion riyals by offering some shares on Tadawul
