HSBC Saudi Arabia in its capacity as the Financial Advisor, Lead Book-runner, Lead Underwriter, and Lead Manager on the potential initial public offering of Nayifat Finance Company announces the Company’s intention to proceed with the initial public offering and listing of its ordinary shares on the Main Market of the Saudi Exchange
HSBC Saudi Arabia in its capacity as the Financial Advisor, Lead Book-runner, Lead Underwriter, and Lead Manager on the potential initial public offering of Nayifat Finance Company (“Nayifat” or the “Company”) announces the Company’s intention to proceed with the initial public offering and listing of its ordinary shares (“Shares”) on the Main Market of the Saudi Exchange. The offering will comprise a sale of existing shares and result in a free float of 35% of the Company’s share capital.
The Saudi Exchange approved the Company’s application for the listing of the Shares on the Main Market on 5 April 2021G and the Capital Market Authority (“CMA”) approved the Company’s application for the initial public offering of 35,000,000 ordinary shares (representing 35% of the Company’s share capital) on 29 September 2021G. The price at which all subscribers in the offering will purchase the Shares will be determined after the book-building period.
For more information, please visit the Capital Market Authority website (www.cma.org.sa) and Nayifat’s website (https://ipos.nayifat.com/home-saudi) where the Offering Prospectus will be published in due course.