Aldukheil says Group Five Pipe offering price on Nomu set at SAR 35

01/11/2021 Argaam

Logo of Group Five Pipe Saudi Ltd.

Aldukheil Financial Group (AFG), financial advisor for the initial public offering (IPO) of Group Five Pipe Saudi Ltd. on Nomu – Parallel Market, stated that the offering price was set at 35 per share, according to a filing to Tadawul.

 

The subscription period will begin on Sunday, Nov. 14, and end on Thursday, Nov. 18.

 

On Sept. 29, the Capital Market Authority (CMA) approved a request by Group Five Pipe to offer 2.8 million shares, or 10% of its share capital, on Nomu.

 

Company Profile

Company

Group Five Pipe Saudi Ltd.

Market

Nomu Parallel Market

Core Activities

Production, sale, and marketing of spirally welded steel pipes

Capital

SAR 280 mln
 

IPO Summary

Issue Percentage 

10%

Number of Shares Offered

2.8 mln 

Qualified Subscribers

Qualified investors as defined in the glossary used in CMA's regulations and rules

Minimum Limit

10 shares

Maximum Limit

1,372,000 shares

Subscription Period

Subscription will run from Nov. 14-18

Final Allotment

Nov. 23

Surplus Refunds

Nov. 25

 

For More IPOs

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