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SNB Capital Company announces the Price Range and start of Institutional Book-building period for the Initial Public Offering of Saudi Manpower Solutions Company
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| Announcement Detail | SNB Capital in its capacity as the Lead Manager, Financial Advisor, Book-runner, and Underwriter on the potential initial public offering of Saudi Manpower Solutions Company (“SAMASCO” or the “Company”) announces the price range, as well as the commencement of the Institutional book-building period; as per the following details: • The price range for the Offering has been set between SAR 7 and SAR 7.5 per share (the “Price Range”). • The Offering is comprised of one hundred and twenty million 120,000,000 ordinary shares (the “Offer Shares”), representing 30% of the Company’s issued share capital, by way of sale of existing shares by the Selling Shareholders. • The minimum number of Offer shares to be applied for by the Participating Parties is one hundred thousand (100,000) shares, while the maximum number of shares is nineteen million nine hundred and ninety-nine thousand nine hundred and ninety-nine (19,999,999) shares. • The participation in the book-building process is confined to the Participating Parties in accordance with the Instructions for Book Building Process and Allocation Method in Initial Public Offerings issued by the Board of the Capital Market Authority. • The final price per Offer Share will be determined after the completion of the book-building process, to be followed by the Individual Subscribers subscription process, the number of Offer Shares to be provisionally allocated to Participating Parties is one hundred and twenty million (120,000,000) Offer Shares, representing 100% of the total Offer Shares. Final allocation of the Offer Shares will be made after the end of the subscription period for Individual Investors. In the event that Individual Subscribers subscribe for all the Offer Shares allocated thereto, the Lead Manager shall have the right to reduce the number of shares allocated to Participating Parties to a minimum of one hundred and eight million (108,000,000) shares, representing 90% of the total Offer Shares. • Bidding and book-building period for Participating Parties starts from Wednesday 29/10/1445H (corresponding to 08/05/2024G) and closes at 5:00 p.m. KSA time on Tuesday 06/11/1445H (corresponding to 14/05/2024G). For more information, and for the prospectus, please visit the Capital Market Authority website (www.cma.org.sa) and the Company website (http://www.smasco.com). |
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The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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