{"id":90356,"date":"2024-10-09T00:00:00","date_gmt":"2024-10-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/09\/arabian-mills-dips-on-tadawul-debut\/"},"modified":"2024-10-09T00:00:00","modified_gmt":"2024-10-09T00:00:00","slug":"arabian-mills-dips-on-tadawul-debut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/09\/arabian-mills-dips-on-tadawul-debut\/","title":{"rendered":"Arabian Mills dips on Tadawul debut"},"content":{"rendered":"

Arabian Mills for Food Products\u2019 shares dipped 0.3% on their first day of<\/strong> trading on <\/strong>Tadawul\u2019s main market yesterday<\/strong>, closing at SAR 65.8 apiece, down from their debut price of SAR 66. The share price is allowed to trade within a \u00b130% band on the first three days during intraday trading. Starting from the fourth day of trading on the Tadawul, the band will be capped at no more than 10% up or down before circuit breakers kick in.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

BACKGROUND- <\/strong>The company is offering a 30% stake<\/a> on Tadawul\u2019s main market in a secondary share sale. The institutional offering of Arabian Mills\u2019 IPO sold out within hours<\/a> of opening and was 132x oversubscribed, while the retail component was 9.2x oversubscribed.<\/p>\n

ADVISORS- <\/strong>Our friends at HSBC Saudi Arabia were the sole financial advisor, global coordinator, bookrunner, underwriter, and lead manager on the transaction. Baker McKenzie provided counsel, PwC acted as financial due diligence advisor, EY was auditor, and Euromonitor International was market consultant. Meanwhile, Alrajhi Bank, Saudi Awwal Bank, and Banque Saudi Fransi acted as the receiving agents.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shares debuted at SAR 66 apiece<\/p>\n","protected":false},"author":1,"featured_media":90357,"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":[2233,2419,10,29,2452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-arabian-mills-food-products","tag-capital-markets","tag-enterpriseam-ksa","tag-ipo-watch","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"256b38fb-8dec-4f61-9e6b-8760d56b0f4f","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1995.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Arabian Mills shares inch down on Tadawul debut","related_issue":[90341],"teaser":"Shares debuted at SAR 66 apiece","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.a6da277b-baa5-4505-b112-75fd1511c43c.mp3"},"yoast_head":"\nArabian Mills dips on Tadawul debut - 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