Saudi manpower solutions company Smasco completes IPO at 7.5 riyals per share, raising $240M with a 30% stake from 120M shares.
Saudi manpower solutions company Smasco finalized its IPO at 7.5 Saudi riyals per share, raising $240 million with a 30% stake from 120 million shares. The institutional bookbuilding process was oversubscribed 128 times, reaching an order book of approximately 115 billion riyals. Smasco listed on the main market of the Saudi stock exchange, with a market capitalization of 3 billion riyals at listing.
May 19, 2024
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