Logo of Alwasail Industrial Co.

Alwasail Industrial Co. set the price range for its upcoming initial public offering (IPO) on Nomu Parallel Market between SAR 16 and SAR 19 per share, according to FALCOM Financial Services Co., in its capacity as the financial advisor and lead manager of the potential IPO.

 

The book-building process for participating parties begins today, Dec. 26, and will end on Dec. 30, FALCOM said in a bourse statement.

 

Alwasail Industrial will list a 10% stake, representing 2.5 million shares.

 

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