Bowan to offer 30 percent of its shares

Riyadh-Amlak
Bawan Company is offering 15 million shares for public subscription, representing 30 percent of its total shares, after obtaining the approval of the Capital Market Authority (CMA).
She confirmed that according to the decision of the Capital Market Authority (CMA), part of the offered shares will be allocated to investment funds and licensed persons after the completion of the order book building process, and explained that the share price will be determined later after the completion of the order book building process by Saudi Fransi Capital, the financial advisor, underwriting manager, underwriter and order book manager.
Commenting on the CMA's decision to offer the company's shares for public subscription, Abdullah Al Fouzan, Chairman of the Board of Directors of the company, expressed his appreciation for the CMA's decision, noting that BOAN is one of the leading companies in the building materials industry in the Kingdom and the region since its establishment more than three decades ago, where it was able to gain experience and professionalism that qualifies it to enter the Saudi stock market with competence, confidence and stability.


Mr. Al Fouzan stated that the IPO and listing on the Saudi Stock Exchange will give the market and investors, individuals and institutions, a new choice of stocks that represent a vital and important sector in the national economy.

The Chairman of the Board of Directors touched on the company's vision, where he said that we seek to become the leading group in the Kingdom of Saudi Arabia and the Middle East in the field of building materials industry by enhancing the loyalty of BOAN's customers by providing distinguished and innovative products and services by working with the highest international quality standards and with distinct and specialized competencies in all its sectors. He stressed on striving to maintain the confidence of investors with full commitment to transparency and moving forward in development.