Saudi Arabia’s Miahona Company, one of the major developers of water and wastewater infrastructure in the Kingdom of Saudi Arabia has set the price of its shares between SAR 10.5 and SAR 11.5 per share for its upcoming initial public offering (IPO).
The company announced last week its plans to offer 48.3 million shares (a 30% stake) on the Saudi Exchange (Tadawul).
The final offer price will be set following the book-building process, which will run from April 29 to May 2 for participating parties. Retail investors will then be able to bid for the offering between May 21 and May 22 for 20% of the total offer.
Miahona is a Saudi joint-stock company established in 2008. The company and
its subsidiaries are among the first developers of water and wastewater infrastructure
under the PPP model in the Kingdom.
Miahona is fully owned by Vision Invest, a Saudi investment holding company with a focus on public and private sector partnerships (PPP).
The company’s listing is the latest in a IPO boom in Gulf markets that has been taking place over the last two years, as a result of high oil prices and foreign institutional investor interest. Earlier this month, the Kingdom’s low-cost airline flynas confirmed its plans to go public in 2024.
