{"id":85658,"date":"2024-04-30T00:00:00","date_gmt":"2024-04-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/miahona-ipo-could-raise-as-much-as-sar-555-5-mn\/"},"modified":"2024-04-30T00:00:00","modified_gmt":"2024-04-30T00:00:00","slug":"miahona-ipo-could-raise-as-much-as-sar-555-5-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/miahona-ipo-could-raise-as-much-as-sar-555-5-mn\/","title":{"rendered":"Miahona IPO could raise as much as SAR 555.5 mn"},"content":{"rendered":"

Institutional investors started placing orders in Miahona\u2019s IPO yesterday<\/strong>, kicking off the institutional subscription period. Bankers will wrap up the marketing of the institutional tranche this coming Thursday (2 May). <\/p>\n

The IPO values the Riyadh-based water treatment company at as much as SAR 1.8 bn<\/strong>, according to Enterprise calculations, after advisors on the transaction announced an indicative price range of SAR 10.5-11.5 per share<\/strong>, they said in a statement to<\/a>Tadawul<\/a>. The guidance indicates the IPO could raise as much as SAR 555.5 mn.<\/p>\n

What\u2019s next:<\/strong> After the institutional subscription closes, bankers will set the offering\u2019s final price, initiating a two-day subscription process for the retail tranche which is slated to start on Tuesday, 21 May, the statement reads. The final step before ringing the bell in the exchange involves refunding any excess subscription fees on Thursday, 30 May. <\/p>\n

Background:<\/strong> The sole owner of Miahona \u2014 Vision Invest<\/a> \u2014 will offload a 30% stake on main market Tadawul in secondary share sale, and its shares will remain locked up for six months from the first trading day, it said when it released its prospectus<\/a> last week. The selling shareholder will take home the proceeds from the offering after paying an estimated SAR 28 mn in fees associated with the transaction.<\/p>\n

ADVISORS-<\/strong> Our friends at EFG Hermes KSA <\/strong>are quarterbacking the transaction as financial advisor, bookrunner, and underwriter, along with Saudi Fransi Capital (SFC)<\/strong> which is also separately acting as the lead manager. SFC <\/strong>and Riyad Bank <\/strong>are receiving agents. Latham & Watkins <\/strong>is acting as legal counsel, while PwC<\/strong> is financial due diligence advisor, KPMG<\/strong> are serving as auditors, and Arthur D. Little<\/strong> as market consultant.<\/p>\n","protected":false},"excerpt":{"rendered":"

The price range values the company at up to SAR 1.8 bn<\/p>\n","protected":false},"author":1,"featured_media":85659,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2542],"tags":[2419,10,29,1571,2452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-capital-markets","tag-enterpriseam-ksa","tag-ipo-watch","tag-miahona","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"64487eae-b41b-4768-8cd8-8aea40b3a0f6","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1805.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Water treatment company Miahona sets the price range for its main market Tadawul IPO","related_issue":[85651],"teaser":"The price range values the company at up to SAR 1.8 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.1240ae94-6495-4dc3-8eae-dab097c6ff2c.mp3"},"yoast_head":"\nMiahona IPO could raise as much as SAR 555.5 mn - 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