Hedab Alkhaleej Sets IPO Offer Price at 52 Riyals
Deal News | Feb 25, 2025 | Zawya
Hedab Alkhaleej Trading Company, a Saudi Arabian ceramics maker, has set its initial public offering (IPO) offer price at 52 Saudi Riyals ($13.86) per share. The IPO was significantly oversubscribed, reaching a subscription rate of 173%. The company has sold 800,000 ordinary shares, which constitute a 10.67% stake in the company. Yaqeen Capital served as the financial advisor and lead manager for the issuance. The date for listing on the Saudi Stock Exchange Parallel Market, also known as Nomu, is pending decision.
Sectors
- Ceramics
- Financial Services
Geography
- Saudi Arabia – Hedab Alkhaleej and the financial activities mentioned relate to the Saudi Arabian market.
Industry
- Ceramics – The article focuses on Hedab Alkhaleej, a ceramics maker, reflecting its operations and industry sector.
- Financial Services – The IPO process involves financial advisory roles, showcasing the finance industry's involvement.
Financials
- 52 Saudi Riyals ($13.86) – The offer price per share set by Hedab Alkhaleej for the IPO.
- 173% – The oversubscription rate of the Hedab Alkhaleej IPO.
- 800,000 shares – The number of ordinary shares sold in the IPO, representing a 10.67% stake.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hedab Alkhaleej Trading Company | Target | Company | A Saudi ceramics manufacturer offering shares in an IPO. |
| Yaqeen Capital | Financial Advisor and Lead Manager | Company | The financial firm managing the IPO of Hedab Alkhaleej Trading. |