Knowledge Tower offering 948% oversubscribed

07/11/2022 Argaam
Logo of Knowledge Tower Trading Co.

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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