Knowledge Tower offering 948% oversubscribed

07/11/2022 Argaam

Knowledge Tower offering 948% oversubscribed

Logo of Knowledge Tower Trading Co.

Watheeq Capital, the financial advisor for the initial public offering (IPO) of Knowledge Tower Trading Co. on Nomu - Parallel Market, announced that the offering of 350,000 shares, or 20% of the company’s capital, was completed.

 

Qualified investors fully subscribed to the offered shares and the offering was 948% oversubscribed. The offer price was set at SAR 40 a share.

 

Ten shares minimum will be allocated to each subscriber, and the remaining shares will be allocated pro rata.

 

Other relevant measures will be finalized and a date for the share listing will be determined accordingly, according to a statement to Tadawul.

 

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