Tuesday 10, July 2018 by Kudakwashe

Saudi Arabia's Leejam Sports to float IPO


Leejam’s subscription period is from 1 August to 7 August.


Saudi Arabia-based Leejam Sports, a sports and fitness business, will offer 30 per cent of its existing shares in a public offering (IPO) next month, according to Tadawal.

The development is the latest and comes at a time when there is high expectation of public share sales in the kingdom, encouraged by a Government drive to attract foreign direct investment and diversify the economy away from a reliance on oil in line with Vision 2030.

The initial public off­ering will be for 15.7 million ordinary shares and the company will offer shares to both Saudi nationals and institutional investors.


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