Tamkeen announces price range for Tadawul IPO

Riyadh – Mubasher: Tamkeen Human Resources Company set the price for its initial public offering (IPO) between SAR 46 and SAR 50 per share, according to a press release.

The institutional book-building period commences on 13 October 2024 and will end on 17 October 2024.

The offering’s net proceeds will be distributed to the selling shareholders, while the company will not receive any part of the proceeds from the offering.

Meanwhile, the final offering price will be determined at the end of the book-building period.

Tamkeen seeks to float 30% of its share capital on the Saudi Exchange’s Main Market (Tadawul).

In September, the Capital Market Authority (CMA) approved the company’s IPO to trade 7.95 million ordinary shares.

Saudi Fransi Capital, the lead manager, has completed all necessary preparations with the receiving entities, which include Saudi Fransi Capital, Sahm Financial, Derayah Financial, ANB Capital, SNB Capital, Riyad Capital, Albilad Capital, Al Rajhi Capital, among others. 

Source: Mubasher Source: {{details.article.source}}