AlJazira Capital, as the financial advisor, bookrunner, lead manager, and underwriter on the initial public offering (IPO) of Naqi Water Co., announced the successful completion of the book-building process for the participating parties’ tranche.
 
According to a bourse filing, the final offer price was set at SAR 69 per share with a coverage ratio of 30.3 times of the total offer shares.
 
The two-day retail investors’ subscription period will take place on July 27 and July 28. 
 
According to data compiled by Argaam, the company offered six million ordinary shares, representing 30% of its capital, on the Saudi Exchange (Tadawul).
 
Naqi allocated 90% of the offer shares for participating categories, while the remaining 10% will be allocated for retail investors.
 
Naqi is the Kingdom’s first bottled water production company to go public on the main market.
 
AlJazira Capital is a capital market institution company licensed by the Capital Market Authority (CMA) (License No. 37-07076) to conduct securities trading activities.