The CMA approved the Company’s application for the Offering of 50,045,000 Shares (the “Offer Shares”) on Thursday 24th of November 2022, representing 29.6562963% of the Company’s issued share capital, by way of a sale of existing Shares by Jadwa Industrial Investment Company (“Jadwa” or “Selling Shareholder”). The final pricing of the Offer Shares will be determined at the end of the book-building period

On Sunday 11 December 2022 the final price per share has been announced to be 99 SAR

• Tranche (A): Participating Parties: this tranche comprises the parties entitled to participate in the book-building process as specified in the Instructions for Book Building Process and Allocation Method in Initial Public Offerings issued by the board of the CMA, which includes investment funds, companies, Qualified Foreign Investors, GCC corporate investors and certain other foreign investors pursuant to swap arrangements (collectively the “Participating Parties” and each a ”Participating Party”). The number of the Offer Shares provisionally allocated to the Participating Parties is fifty million forty-five thousand (50,045,000) Offer Shares, representing 100% of the total Offer Shares. If there is sufficient demand from the Individual Investors (as defined below), the Joint Financial Advisors, in consultation with the Company, will have the right to reduce the number of Offer Shares allocated to Participating Parties to a minimum of thirty-seven million five hundred thirty-three thousand and seven hundred and fifty (37,533,750) Shares, representing seventy five percent 75% of the Offer Shares.
• Tranche (B): Individual Investors: this tranche comprises Saudi Arabian nationals, including any Saudi female divorcee or widow with minor children from a marriage to a non-Saudi individual who can subscribe for her own benefit or in the names of her minor children on the condition that she proves that she is a divorcee or widow and the mother of her minor children, in addition to any non-Saudi natural person who is resident in the Kingdom, or GCC nationals, provided they have a bank account with one of the Receiving Entities and have the right to open an investment account (collectively, the “Individual Investors” and each a “Individual Investor”). A subscription for shares made by a person in the name of his divorcee will be deemed invalid and if a transaction of this nature is proved to have occurred, the law will be enforced against the applicant. If a duplicate subscription is made, the second subscription will be considered void and only the first subscription will be considered. A maximum of twelve million five hundred eleven thousand two hundred fifty (12,511,250) Shares, representing 25% of the total Offer Shares, will be allocated to Individual Investors. If Individual Investors do not subscribe for all the shares allocated to them, the Joint Financial Advisors may reduce the number of shares allotted to them in proportion to the number of shares for which they subscribed.
• The Offer Shares will be offered to certain Qualified Foreign Investors or to foreign investors located outside the United States through swap agreements (SWAP). This class will subscribe outside the United States in “offshore transactions” in accordance with Regulations under the US Securities Act. The Offer Shares have not and will not be registered under the US Securities Act or the securities laws of any state of the United States of America or under any other law or regulation outside the KSA. The Offer Shares may not be offered or sold in any jurisdiction other than the KSA, including the United States of America. This Offering may not be considered as an offer to sell or an invitation to purchase securities in any jurisdiction where this Offering is unlawful or is not permitted.

The offer of Offer Shares to Individual Investors will be made as follows:

• Each Individual Investor must submit an Individual Subscription Form and subscribe for a minimum subscription size of 10 Shares and a maximum of 250,000 shares. No change or withdrawal of the subscription application forms shall be permitted once the subscription application form has been submitted
• Individual Investors can subscribe through the internet, telephone banking or automated teller machines ("ATMs") of any of the Receiving Agents branches that offer any or all such services to its customers, provided that the following requirements are satisfied:
  • The Individual Investor must have a bank account at a Receiving Agent which offers such services, and is entitled to open an investment account.
  • There have been no changes in the personal information or data of the Individual Investor since such person's subscription in the last initial public Offering.