DUBAI, May 15 (Reuters) - Saudi Arabia's Jamjoom
Pharmaceuticals Factory Company has set the price range for its
initial public offering that could raise as much as 1.26 billion
riyals ($336 million), the company said on Monday.
Jamjoom set the price range for the Saudi Exchange IPO at
between 56 and 60 riyals a share, implying a valuation of
between 3.9 and 4.2 billion riyals, it said in a statement.
The company will offer 21 million shares, or 30% of its
issued share capital, by selling existing shareholders' shares.
Saudi Fransi Capital is lead manager and is joined by
JPMorgan as financial adviser. AlRajhi Capital joins is an
underwriter and bookrunner.
The final price will be set after book building, which
started on Monday and ends on May 22. Subscription for retail
investors runs from May 30 to June 1.
($1 = 3.7501 riyals)
(Reporting by Yousef Saba; Editing by Kirsten Donovan)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.