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The health services company said in a statement that the price range for the offer was set between 123 and 127 riyals per share, giving it a market value of between 5.45 billion and 5.62 billion riyals.
It can be suggested Al-Mousa Companywhose services include primary, critical and rehabilitation care, is the second largest initial public offering in the Kingdom since the start of the year after Fakeeh Healthcare Group raised $763.5 million through a listing in May.
Al-Mousa said that Tavuniia Insurance and Al-Fawzan Holding undertook to jointly subscribe 22 percent of the offered shares.
The final bid price will be determined at the end of the institution’s book-building period, which begins today, Wednesday, and runs through December 10.
Saudi Fransi Capital has been appointed as the financial advisor and underwriting manager, and also acts as underwriter and manager of the institutional underwriting registry in collaboration with EFG Hermes Saudi Arabia.