WorldBusinessNews

Arabian Drilling Company initial public offering (IPO) is announced by Saudi Tadawul for people in the major Saudi market.

The Arabian Drilling Company is one of the well-known businesses providing oil well services in Saudi Arabia, and the Saudi Tadawul has announced the start of the subscription for those who have subscribed in the country.

The subscription will take place on the main market of the Capital Market Authority in the Kingdom. The state has confirmed that investing in the Arab Drilling Company is halal and not at all prohibited, answering the question of whether it is permissible or not. It is also anticipated that investing in that company will be very profitable for all participants, whether they be participating groups or individuals.

Information on the Arabian Drilling Company

A closed joint stock corporation that provides oil well services is The Arabian Drilling Company. The business was founded in 1964 as a joint venture, and Al-Khobar is where its corporate offices are located.

The company’s commercial records and those of its subsidiaries list the following as some of its activities: “Drilling oil and natural gas wells, services related to oil and natural gas extraction, drilling water pipe wells, and manual water well drilling.

Date of IPO for Arabian Drilling Company

While the prospectus for the ADC stated that the subscription period for the categories segment had already begun and would end between September 28 and October 5 and that the offering share’s final price had been disclosed, the subscription period for the segment of people who are eligible to subscribe has already started and will last for 18 days. and October 19, 2022, the final share distribution will be published on October 25, 2022, and the excess subscription funds must be returned by October 29, 2022.

Arab Drilling Company’s first public offering

There is a list of information regarding the subscription of the Arab Drilling Company to individuals in the Kingdom of Saudi Arabia. The shares of the Arab Drilling Company were offered for two tranches, namely individuals who are Saudi citizens, non-Saudi residents, and nationals of the Gulf Cooperation Council countries who have an account in one of the receiving banks, and the second tranche is the categories Eligible for subscription, which are investment funds, c, and d. The following table shows the prospectus for Arab Drilling’s subscription:

Related Articles

Back to top button