Naba Alsaha IPO 531% oversubscribed, 10 shares allocated per subscriber

Logo of Naba Alsaha Medical Services Co.

Aldukheil Financial Group (AFG), the financial advisor on the initial public offering (IPO) of Naba Alsaha Medical Services Co. (NAMS) on Nomu-Parallel Market, announced that the offering of 1.4 million ordinary shares, or 20% of the company’s capital, was successfully concluded.

In a statement to Tadawul today, Aug. 17, AFG said qualified investors subscribed to all shares offered at SAR 57 each.

The IPO was 530.73% oversubscribed. Each individual subscriber received a minimum of 10 shares, while the remainder was allocated on a pro-rata basis.

The subscription surplus will be refunded no later than Thursday, Aug. 18. AFG will finalize the required procedures with Saudi Tadawul Co. and determine the date for listing Naba Alsaha’s shares on Nomu.

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