Saudi Home Financier IPO Seeks to Raise Up to $123 Million

Amlak International for Real Estate Finance is seeking to raise as much as $123 million from an IPO.

The Saudi Arabian home financing firm set the price range between 15 riyals and 17 riyals, according to a statement. The final offer price for the share sale will be set based on demand from institutional investors during the book-building process, which runs from June 22 to June 29.

The institutional tranche will be followed by an offering for retail investors, who will be able to bid for shares from July 2 to July 5, based on the final offer price set during the book building. NCB Capital is managing the process.

Amlak International will offer 27.18 million shares to institutions and investment funds, including 2.72 million shares that may be offered to individual subscribers.

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