Riyadh’s Avalon Pharma to publicly list on Saudi Exchange

• The shares will be listed on the Saudi Exchange’s main market following the completion of the IPO and listing formalities with the CMA and the Saudi Exchange.

• The IPO of Avalon Pharma consists of an offer of 6 million ordinary shares, representing 30 per cent of the company’s issued share capital of 20 million shares.

• The offer shares will be offered for subscription to participating parties and individual investors. The number of offer shares to be initially allocated to participating parties is 6 million offer shares representing 100 per cent of the total offer shares.

• If there is sufficient demand by individual investors, the number of shares initially allocated to participating parties will be reduced to 5.4 million shares, representing 90 per cent of the total offer shares.

• The final offer price will be determined at the end of the book-building process, and before the beginning of the subscription period for individual investors.