The Initial Public Offering (IPO) of Al Sorayai Trading and Industrial Group will start on Monday 17/02/1431H (corresponding to 01/02/2010G) and continue until Sunday 23/02/1431H (corresponding to 07/02/2010G) at SAR27 per share (SAR10 as nominal value and SAR17 as issue premium) which had been determined according to the IPO of Mutual Funds and the approval from the Capital Market Authority. The IPO had been covered by 109% in Book Order process.

Mohammed Abdulaziz Aldukheil, Executive Vice President at Aldukheil Financial Group (AFG), which is the Financial Advisor, Lead Manager and Book Runner, pointed out that the final IPO price had been included in the final Prospectus published in the websites of the Capital Market Authority, Al Sorayai Trading and Industrial Group and Aldukheil Financial Group.
 

Aldukheil revealed that 9 million shares will be available for both mutual funds and the public, representing, in total, 30 per cent of Al Sorayai's capital. The IPO shares will be allocated to the public (maximum of 50 per cent of the total shares offered) and mutual funds (portion of shares remaining after public subscription). The 9 million shares had been available to mutual funds as part of the first stage, whereas the final stage of allocation will depend on the public demand and will be subject to the approval from the Capital Market Authority.

Aldukheil revealed that the IPO of Al Sorayai Trading and Industrial Group serves as an important development in the IPO market. The IPO applications can be submitted through the accredited companies by Capital Market Authority which had been mentioned in the Prospectus.

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