Horizon Food's Nomu offering 103.13% covered

Logo of Horizon Food

Wasatah Capital, the financial advisor on the share listing of Tabuk Agricultural Development Co.’s (TADCO) subsidiary, Horizon Food, on Nomu-Parallel Market, announced the successful completion of the latter’s offering and subscription.

In a statement to Tadawul, the brokerage pointed out that the coverage ratio stood at 103.13%, priced at SAR 37 a share.

Wasatah Capital and Al-Nefaie Investment Group, in their capacities as the company’s financial advisor and lead manager, respectively, will complete all the necessary procedures with the Saudi Exchange (Tadawul) in order to schedule for Horizon Food’s share listing on Nomu, the statement added.

On March 5, qualified investors started subscription to nearly 1.6 million shares, or 20% of the share capital of Horizon Food, on Nomu, with an IPO price of SAR 37 per share, Argaam earlier reported.

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