Aldukheil Financial Group announces opening of books for institutional investor subscription for Al Sorayai Trading & Industrial Group IPO

Mr. Mohammed Abdulaziz Aldukheil, Executive Vice President at Aldukheil Financial Group (AFG), has revealed that AFG, acting as Financial Advisor, Lead Manager and Book Runner, has completed all formalities and procedures required to launch the subscription process for Mutual Funds to the Initial Public Offering (IPO) of Al Sorayai Trading and Industrial Group. The book building period started Saturday 08/02/1431H (corresponding to 23/01/2010G) and will continue until Wednesday 12/02/1431H (corresponding to 27/01/2010G).Mr. Aldukheil added that the final IPO price will be determined after the close of the book building period. The price will be included in the final Prospectus, which will be available on the websites of the Capital Market Authority shortly before the IPO period. The IPO period will start on Monday 17/02/1431H (corresponding to 01/02/2010G) and will continue until Sunday 23/02/1431H (corresponding to 07/02/2010G).Aldukheil revealed that 9 million shares will be available for both mutual funds and the public, representing, in total, 30 per cent of Al Sorayai's capital. The IPO shares will be allocated to the public (maximum of 50 per cent of the total shares offered) and mutual funds (portion of shares remaining after public subscription). The 9 million shares will be available to mutual funds as part of the first stage, whereas the final stage of allocation will depend on the public demand and will be subject to the approval from the Capital Market Authority.