(Bloomberg) -- Alamar Foods, the Middle East’s Domino’s Pizza franchise, is set to price its initial public offering in Saudi Arabia at the top of the range, as investors continue to pour money into the region’s listings.
Orders below 115 riyals per share risk missing, according to terms of the deal seen by Bloomberg News. The price range had been set at 103 riyals to 115 riyals per share, with private equity firm Carlyle Group looking to raise as much as $325 million from the IPO.
Alamar Foods is the latest company to tap the Middle East’s booming equity capital markets. Dubai business part operator Tecom Group is also set to price its IPO at the top of the range, even as the region’s equities have given up many of the year’s gains.
Saudi Arabian stocks briefly dipped below last year’s levels on Monday, trading about 18% below a high in May, before rebounding as bargain hunters stepped in.
Alamar Foods is taking orders from institutional investors until June 27. HSBC Saudi Arabia is the financial adviser, bookrunner, lead manager and underwriter.
©2022 Bloomberg L.P.
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