{"id":86596,"date":"2024-05-28T00:00:00","date_gmt":"2024-05-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/28\/talco-sets-final-ipo-price-at-the-top-of-the-range\/"},"modified":"2024-05-28T00:00:00","modified_gmt":"2024-05-28T00:00:00","slug":"talco-sets-final-ipo-price-at-the-top-of-the-range","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/28\/talco-sets-final-ipo-price-at-the-top-of-the-range\/","title":{"rendered":"Talco sets final IPO price at the top of the range"},"content":{"rendered":"

Aluminum products maker Al Taiseer Group Talco Industrial (Talco) priced <\/strong>its Tadawul IPO <\/strong>at SAR 43 per share<\/strong>, financial advisor Alinma Investment said in a statement<\/a> yesterday. The institutional tranche of the main market offering closed last week with a 68.5x oversubscription rate, signaling strong investor appetite. Talco is taking a 30% stake to market<\/a> in a secondary share sale.<\/p>\n

Pricing + valuation:<\/strong> The share price means Talco is set to raise SAR 516 mn from the IPO and give it a market cap of up to SAR 1.7 bn at the start of trading, according to our calculations.<\/p>\n

What\u2019s next<\/strong>? The two-day book building process for retail investors starts today and wraps up tomorrow. Investors can subscribe to a maximum of 1.2 mn offer shares, according to Alinma\u2019s statement. The final allocation of shares will take place by Sunday, 2 June, while the first trading day remains contingent on fulfilling regulatory requirements.<\/p>\n

Use of proceeds: <\/strong>Talco\u2019s selling shareholders will take the transaction\u2019s proceeds home after covering transaction related-expenses, which are estimated at SAR 16 mn. All the proceeds will be divided between the selling shareholders on a pro rata basis.<\/p>\n

The pitch: <\/strong>Talco is a leader in the industry, with a footprint in 26 countries across the GCC, MENA region and East Asia, Europe, US, and Australia. Several expansions throughout the years helped bring its aluminum production capacity to 60k MT as of June 2023. It currently operates two factories in Riyadh and one in Jeddah.<\/p>\n

ADVISORS-<\/strong> Alinma Investment<\/strong> is quarterbacking the transaction as financial advisor, lead manager, bookrunner and underwriter, while Stat Law Firm<\/strong> is acting as counsel. PwC<\/strong> is Talco\u2019s financial due diligence advisor. Front & Sullivan<\/strong> is serving as market consultant, while KPMG<\/strong> is acting as the company\u2019s auditor. The receiving agents are Alinma Bank<\/strong>, Al Rajhi Bank<\/strong>, and Riyad Bank<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The pricing would see it raise up to SAR 516 mn in IPO proceeds<\/p>\n","protected":false},"author":1,"featured_media":86597,"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":[2025,10,29,2452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-al-taiseer-group-talco-industrial-talco","tag-enterpriseam-ksa","tag-ipo-watch","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"b86c99c1-4ce1-44e2-bca5-60b64ee2c664","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1384.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Talco prices IPO at top range ahead of retail subscription","related_issue":[86592],"teaser":"The pricing would see it raise up to SAR 516 mn in IPO proceeds","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.32a6a7f2-d1b1-4a89-bc7b-5b27bf4ac935.mp3"},"yoast_head":"\nTalco sets final IPO price at the top of the range - 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