According to the company’s website, Marafiq is the main energy supplier for the industrial cities of Jubail and Yanbu and supplies power to oil and petrochemical plants owned by companies including Aramco and SABIC.
Marafiq has hired HSBC Saudi Arabia and Riyad Capital to manage its initial public offering, in line with the acceleration of the Kingdom’s ambitious privatization program.
Offer program
- 2 October announcement of the intention to offer.
- 9 October Determine the price range of the offer and start the process of building the order book for guarantee institutions.
- 19 October The conclusion of the order book construction process and the announcement of the final offer price, followed by the start of the individual subscription period
- The company’s stock is expected to start trading later in November 2022.
Marafiq first launched the idea of an initial public offering in 2017, when he chose GIB Capital to advise on a potential listing and acquisition of power plants.
The company’s latest attempt comes at a time when the Saudi government is reducing its ownership of government assets, including Saudi Aramco, to diversify its oil-dominated economy, and the government has also been selling stock market shares and stocks. mills.
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