Islamic Finance

Saudi firm Amlak sets price range for IPO

Published 21 Jun,2020 via Asharq Alawsat (English Edition) - Saudi Arabian real estate financing firm Amlak International has set the price range for its planned initial public offering (IPO) at between 15 riyals ($4.00) and 17 riyals, it said in a statement on Sunday.

The bookbuilding for the offered shares will start on Monday and will last until June 29, it said.

The company is planning to float 30% of its shares in Riyadh, in what will be the exchange's first IPO since the coronavirus crisis. ($1 = 3.7518 riyals)

Amlak, founded in 2007, was the first licensed company in Saudi Arabia by Saudi Arabian Monetary Agency (SAMA) to provide real estate financing solutions.

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