Advance International offering price range set at SAR 95-110

Logo of Advance International Company for Communication and Information Technology

Falcom Financial Services, in its capacity as the financial advisor and lead manager of the initial public offering (IPO) of Advance International Company for Communication and Information Technology (AICTEC), said that the price range was set at SAR 95-110. 

Falcom also announced the start of the book-building process for qualified investors 

The company will offer 400,000 outstanding shares, or 20% of its issued share capital.  

A total of 400,000 shares, or 100% of the offered shares, will be allocated to qualified investors. 

The period of the book-building process for qualified investors begins today, Dec. 12, and will end on Dec. 16, 2021. 

In November, the Capital Market Authority (CMA) approved the application received from Advance International to offer its shares on Nomu-Parallel Market, Argaam earlier reported. 

Subscription to the offered shares is limited to the categories of qualified investors, in accordance with the requirements of the Rules on the Offer of Securities and Continuing Obligations. 

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