Al-Fakhera sets IPO price on Nomu at SAR 6/shr

Logo of Al-Fakhera Men's Tailoring Co.

Al-Fakhera Men's Tailoring Co. completed its offering of 6 million shares, representing 16.67% of its post-IPO capital on the Nomu-Parallel Market, at SAR 6 per share.

This price is the upper limit of the previously set range of SAR 5-6 per share, according to financial advisor and underwriter Yaqeen Capital.

In a statement to Tadawul, the brokerage firm said the IPO, which took place from Nov. 3-11, was oversubscribed by 268.24%.

For More IPOs

Yaqeen Capital, as financial advisor and lead manager, will finalize the required procedures with the Saudi Exchange and determine the listing date for Al-Fakhera's shares on Nomu, the statement added.

According to data compiled by Argaam, the company announced an offering for 6 million ordinary shares on the Nomu-Parallel Market. The IPO shares represent 20% of the pre-IPO capital of SAR 30 million and 16.67% of the post-IPO capital.