Saudi Arabia’s First Avenue Real Estate Development has proposed a price range for its initial public offering (IPO) and the start of the book-building period for qualified investors, Al Khair Capital, the financial advisor and lead manager for the listing, has disclosed.
The company will offer 16.4 million ordinary shares on the Kingdom’s parallel market NOMU, representing 8.01% of the company’s shares.
The price range for each shares has been set at between SAR 5.7 to SAR 6 ($1.52 to $1.60).
The offering period will begin on Tuesday, 10 September 2024 and will end on Monday 16Â September 2024, according to Al Khair Capital.
