RIYADH: Saudi Arabia’s Alwasail Industrial Co.’s offering has been priced at the top of the indicative range at SR19 ($5.06) per share, a bourse statement on Monday revealed. This came in line with the completion of qualified investors’ book-building by FALCOM Financial Services Co., where the offering was 16.2 times covered. The listing date is to be disclosed after FALCOM finalizes the necessary procedures with the Saudi Exchange Tadawul, the statement added. Upon completion of all steps, the company’s shares will debut on Nomu — Saudi bourse’s parallel market. In late December 2021, Alwasail raised 2.5 million shares in an initial public offereing solely to qualified investors. The offer size represented 10 percent of the company’s share capital. Based in Buraydah, Alwasail Industrial manufactures plastic pipes to support irrigation systems, water, gas, communications, and sewage projects.