Welspun Corp update on proposed IPO of its Saudi JV

Welspun Corp update on the proposed listing of East Pipes Integrated Company for Industry (Formerly Welspun Middle East Pipes LLC) established in the Kingdom of Saudi Arabia (EPIC) at the local Stock Exchange.

The Board of EPIC in consultation with the Book Running Lead Managers have finalized the price band to range between SAR 72 to SAR 80 per Share. Bidding and book-building period for participating entities: from 11 January 2022 to 17 January 2022.

EPIC is offering 6,300,000 shares representing 30% of its share capital I the proposed IPO.

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