NCB Capital, in its capacity as subscription manager and financial advisor for Saudi Aramco’s initial public offering of Luberef base oils, announced the successful completion of the order book process for the company’s participating share classes with a coverage ratio of 29.5 times the total number of outstanding shares. The final offer price was set at 99 riyals per share.
The company said in a statement for Tadawul Saudi Arabia today, Sunday, that if the order book process is successfully completed on Wednesday 12/14/2022, the individual subscription phase will begin and continue. until 5 pm on Sunday 12/18/2022, when 12.51 million ordinary shares, which is 25% of the total number of shares placed by public subscription, will be distributed among individual subscribers at a maximum.
It is noteworthy that the launch of the Luberef company was covered within a few hours after the start of the order book formation process for the segment of the participating categories.
The company has set a price range for offering about 30% of its capital on the main market between 91 and 99 riyals per share, with the goal of raising a maximum of 4.95 billion rials, valuing Luberef at 16.7 billion rials.
It is noteworthy that Luberef was established in 1976 and is currently 70% owned by Saudi Aramco, as well as 30% by Jadwa Investment, which offers its entire share by subscription.
