Securities

Announcement of the Price Range and Start of Institutional Book-building Period for the Initial Public Offering of Power and Utility Company for Jubail and Yanbu

HSBC Saudi Arabia and Riyad Capital in their capacity as Financial Advisors, Book-runners, and Underwriters on the potential initial public offering of Power and Utility Company for Jubail and Yanbu (“Marafiq” or the “Company”) announce on behalf of the Company the price range, as well as the commencement of the institutional book-building period; as per the following details:

  • The price range for the Offering has been set at SAR 41 - 46 per share (the “Price Range”)

  • The Offering is comprised of seventy-three million, ninety-four thousand and five hundred (73,094,500) ordinary shares (the “Offer Shares”), representing 29.24% of Marafiq’s issued share capital, by way of a sale of existing Shares by the substantial shareholders (who own 5% or more of the Shares at the time of listing), and comprise the Royal Commission for Jubail and Yanbu, the Public Investment Fund (“PIF”), Saudi Aramco Power Company and Saudi Basic Industries Corporation (“SABIC”) (collectively, the “Selling Shareholders”). The Offering, after taking into account minority shareholders with a total of 0.76% of Marafiq’s share capital, will correspond to a 30% free float at listing.

  • The minimum number of Offer shares to be applied for by participating entities is one hundred thousand (100,000) shares, while the maximum number of shares is twelve million, four hundred ninety-nine thousand, nine hundred ninety-nine (12,499,999) shares.

  • The participation in the book-building process is confined to the participating parties in accordance with the Instructions for Book Building Process and Allocation Method in Initial Public Offerings issued by the Board of the Capital Market Authority.

  • The final price per Offer Share will be determined after the completion of the book-building process, to be followed by the Individual Investors subscription process, the number of Offer Shares to be provisionally allocated to Participating Parties is seventy-three million, ninety-four thousand and five hundred (73,094,500) Offer Shares, representing 100% of the total Offer Shares. Final allocation of the Offer Shares will be made after the end of the subscription period for Individual Investors. In the event that Individual Investors subscribe for all the Offer Shares allocated thereto, the bookrunners shall have the right to reduce the number of shares allocated to participating parties to a minimum of fifty-one million, one hundred and sixty-six thousand, one hundred and fifty (51,166,150) Offer Shares, representing 70% of the total Offer Shares.

  • Bidding and book-building period for Participating Entities: starts on 9 October 2022 and ends on 14 October 2022.

  • For more information and for the prospectus, please visit the Capital Market Authority website (www.cma.org.sa), and Marafiq website (https://www.marafiq.com.sa/)

Prospectus

Supplementary Prospectus

 

Date: 13 October 2022