#Saudi Alamar Foods sets IPO final price at $30.66 per share

Saudi Alamar Foods sets IPO final price at $30.66 per share

Saudi Arabia’s Alamar Foods, the master franchise operator of Domino’s Pizza in the region, has set its IPO final offer price at 115 riyals ($30.66) per share, the top of the price range, implying a market capitalization of 2.93 billion riyals ($782 million).

The IPO order book was 47.5 times oversubscribed, the company said in a statement.

The subscription period for individual investor is between 20 July and 21 July 2022.

The offering comprises 10.6 million shares to be sold by the US-based The Carlyle Group, which owns nearly 42 percent of Alamar. The buyout firm bought the stake from the Al Jammaz Group for an undisclosed amount, according to an earlier statement issued by Carlyle.

The balance is held by Abdulaziz Ibrahim AlJammaz and Brothers, which will be locked up for six months post completion.