Pan Gulf Marketing prices IPO on Nomu at SAR 51/share

01/02/2024 Argaam

Pan Gulf Marketing prices IPO on Nomu at SAR 51/share

Logo of Pan Gulf Marketing Co.

Pan Gulf Marketing Co. sold 600,000 shares, or 12% of its capital, in an initial public offering (IPO) on Nomu Parallel Market, Yaqeen Capital Co., the financial advisor and lead manager, said.

 

The IPO was priced at SAR 51 per share. The offering was 108.92% covered.

 

The offering was priced at the top of its range, which was set between SAR 51 and SAR 59 per share.

 

Pan Gulf Marketing extended the subscription period for until Jan. 29.

 

Yaqeen Capital will complete the necessary measures with Saudi Tadawul Group to set the listing date.

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