Announcement of Power and Utility Company for Jubail and Yanbu’s intention to proceed with an initial public offering and listing on the Main Market of the Saudi Exchange
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 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, where offering is expected to comprise a sale of existing shares and result in a free float of 29.24% 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 24 August 2022G and the Capital Market Authority (“CMA”) approved the Company’s application for the initial public offering of 73,094,500 ordinary shares (representing 29.24% of the Company’s share capital) on 26 September 2022G. 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 Marafiq website ( https://www.marafiq.com.sa/ ) where the Offering Prospectus will be published in due course.
Date: 02 October 2022