Economy

Saudi Home Loans sets offer price range as it joins IPO wave

Follow-ups -eshrag News:

Mon, 2022-03-14 15:59

RIYADH: Islamic real estate finance firm Saudi Home Loans Co. will start initial public offering book-building on March 15 amid a listing spree in the Kingdom.

The Riyadh-based company will allocate up to 30 million shares to participating entities with the price range set at SR17-20 ($4.53-$5.33) per share.

The book-building period will run for seven days until March 21, according to a bourse filing.

Operating since 2007, SHL is 40-percent owned by Arab National Bank, the second-largest shareholder is Dar Al Arkan, with 15 percent of share capital.

Upon completion of the book-building process, individual investors will be allowed a maximum of 3 million shares.

Such a move by the Shariah-compliant real estate lending firm is the latest in the Kingdom’s IPO wave in a bid to enhance liquidity and scale its capital markets.

Main category: 
Business & Economy
Tags: 
Saudi Home Loans Co
IPO

Saudi Home Loans to proceed with IPO despite global geopolitical threats

Noting that the news was copied from another site and all rights reserved to the original source.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button