{"id":102196,"date":"2025-11-06T00:00:00","date_gmt":"2025-11-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/11\/06\/cherry-trading-prices-main-market-ipo-at-sar-28-per-share\/"},"modified":"2025-11-06T00:00:00","modified_gmt":"2025-11-06T00:00:00","slug":"cherry-trading-prices-main-market-ipo-at-sar-28-per-share","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/11\/06\/cherry-trading-prices-main-market-ipo-at-sar-28-per-share\/","title":{"rendered":"Cherry Trading prices main market IPO at SAR 28 per share"},"content":{"rendered":"

<\/strong>Cherry Trading priced its Tadawul IPO at SAR 28 per share<\/strong>, the top of the<\/a>range it was<\/a>guiding on<\/a>, after its institutional offering was 85.6x oversubscribed, according to a bourse filing<\/a>. The offer price will see the car lessor raise SAR 252 mn from the IPO, implying a market cap of SAR 840 mn at listing, according to our calculations. <\/p>\n

REFRESHER- This is a secondary offering<\/strong>, meaning selling shareholders will rake in all the proceeds from the sale of 9 mn existing shares (excluding some SAR 27 mn for IPO-related expenses). <\/p>\n

What\u2019s next?<\/strong> Some 20% of the shares on offer will be open to retail investors between 12-13 November, with final allocations due Wednesday, 19 November.<\/p>\n

ADVISORS-<\/strong> Our friends at EFG Hermes KSA, along with BSF Capital, are quarterbacking the transaction as the financial advisors, bookrunners, and underwriters. Other advisors include Stat Law Firm, Zeyad Sameer Khoshaim Law Firm, PwC, Euromonitor International, and KPMG.<\/p>\n

Receiving agents<\/strong> include Alinma Investment, Al Rajhi Capital, SNB Capital, Riyad Capital, Al Bilad Investment, Al Jazira Capital, Alistithmar Capital, Derayah Financial, ANB Capital, Yaqeen Capital, Al Khabeer Capital, Sab Invest, Saham Capital, GIB Capital, Musharaka Capital, and Awaed Alosool Capital.<\/p>\n

ALSO IN THE PIPELINE-<\/strong><\/p>\n