Latest news with #AlRajhiCapital
Argaam
6 days ago
- Business
- Argaam
List of receiving entities for flynas IPO
Retail investors began today, May 28, subscribing to 10.25 million shares of Saudi Arabia's budget airline flynas at SAR 80 per share, as determined through the book-building process. The company decided to float 51.3 million shares, or 30% of its share capital, at a nominal value of SAR 10 per share, data available with Argaam showed. The receiving entities are Derayah Financial, Al Rajhi Capital, SNB Capital, BSF Capital, Riyad Capital, Albilad Capital, AlJazira Capital, Alistithmar Capital, Alinma Investment, Yaqeen Capital, Alkhabeer Capital, SAB Invest, ANB Capital, Sahm Capital and GIB Capital.
Zawya
20-05-2025
- Business
- Zawya
United Carton tests strength of Saudi retail demand: IFR
Appetite for IPOs among Saudi retail investors proved as robust as ever with individual demand for United Carton Industries well in excess of the entire SR600m (US$160m) deal. The deal was the first main market listing on Tadawul since the Eid al-Fitr holiday and the broader market volatility following US president Donald Trump's April 2 tariff announcements. The retail offer of 20% of the IPO attracted SR1.07bn of demand from 396,601 subscribers covering the public tranche 8.9 times. Institutional demand proved equally strong with SR75bn of demand covering the 80% going to institutions more than 150 times. The institutional bookbuild led to pricing at the top of a SR47–SR50 range valuing the company at SR2bn off a 30% free-float. Al Rajhi Capital ran the deal. More Tadawul retail offers are due this month for Specialized Medical Company and Flynas, which will open their books to the public on May 28. Pricing is still to be announced for those deals, which completed institutional bookbuilding on May 15 and May 18, respectively.
Argaam
19-05-2025
- Business
- Argaam
Winners of Argaam Recognition Award 2024 revealed
In recognition of the professional excellence of investment fund managers and IPO lead managers in the Saudi stock market, Argaam continues to present the Argaam Recognition Award to outstanding financial institutions in light of the performance of their investment funds and investment banking in the Main Market (TASI) and the Nomu-Parallel Market. The 'Top-Performing Fund for 2024' Award was granted to Al Rajhi Capital Saudi Small and Mid-Cap Equity Fund. The award is granted to the top performing funds with net assets under management (AUMs) exceeding SAR 100 million (TIER-I). Osool & Bakheet Parallel Market Trading Equity Fund won the 'Top-Performing TIER2 Fund for 2024' Award for funds with AUMs below SAR 100 million. HSBC Saudi Arabia was awarded the " IPO Manager of The Year 2024" in the Main Market. Yaqeen Capital was named the 'Top IPO Manager of The Year 2024" in the Nomu-Parallel Market. Al Rajhi Capital was also named the 'Best Trading Platform and Best Brokerage Company for 2024'. Since its launch in 2017, the Argaam Recognition Award has received wide acclaim and considerable interest from the Saudi financial and business community. This year's edition builds on the success of the award's professional foundation.
Argaam
18-05-2025
- Business
- Argaam
UCIC IPO 8.9x covered, 6 shares allocated
Al Rajhi Capital, in its capacity as the financial advisor, bookrunner, underwriter, and lead manager for the initial public offering (IPO) of United Carton Industries Co. (UCIC) on the Main Market (TASI), announced the end of subscription to the retail tranche. The IPO was 8.9x covered.
Argaam
05-05-2025
- Business
- Argaam
UCIC prices IPO at SAR 50/share on TASI
Al Rajhi Capital, in its capacity as the financial advisor, bookrunner, underwriter, and lead manager for the initial public offering (IPO) of United Carton Industries Co. (UCIC), completed the book-building process for the participating parties tranche. In a statement on Tadawul, Al Rajhi Capital said the price range was set at SAR 50 per share, with a coverage level of approximately 126x of the total offer shares. UCIC plans to offer 12 million shares, or 30% of the company's capital of SAR 400 million, on Tadawul. UCIC's capital is divided into 40 million shares at a par value of SAR 10 per share, Argaam data showed. The retail offering will run for two days from May 12-13 and a maximum of 2.4 million shares will be allocated to individuals.
