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The shares are projected to be priced at 13.50 riyals ($3.60) each, according to the terms of the deal. This pricing range was initially established between 12.5 riyals and 13.5 riyals per share, indicating a strong demand for the company’s shares.
As part of this offering, ADES Holding Co. is putting 237.1 million new shares on the market. Key shareholders including the Public Investment Fund, ADES Investments Holding Ltd., and Zamil Group Investment Ltd., are also offloading approximately 101.6 million shares.
Overall, the total stake being offered in this IPO equates to 30% of the company.
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