Al Majed Oud has set the price range for its initial public offering (IPO) on the Kingdom’s main market (TASI) between SAR90 and SAR94 ($23.99 to $25.05) per share, according to an official announcement. Â
The Saudi Arabian perfume manufacturer said that the book-building process for institutional investors will run from August 25 to 29.Â
The company is floating 7.5 million shares, representing 30% of its capital, on TASI. Of these shares, Al Majed Oud has allocated .25 million to public funds.
The offering period for retail investors will take place on September 15.
