Bena Steel IPO 150% oversubscribed

07/03/2023 Argaam

Bena Steel IPO 150% oversubscribed

Logo of Ben Steel Industries Co.

Bena Steel Industries Co.'s initial public offering (IPO) on Nomu-Parallel Market was 150.02% oversubscribed, financial advisor and lead manager Yaqeen Capital said in a statement to Tadawul.

 

The share price was set at top of range at SAR 52.

 

Yaqeen Capital will complete the required procedures with Saudi Tadawul Group, thus setting a date for listing the company's shares on Nomu.

 

Qualified investors started, on Feb. 26, subscription to 600,000 shares, or 12% of the company's share capital, on Nomu. The IPO price range was set between SAR 50-52 per share, according to Argaam's data.

 

Headquartered in Dammam, Bena was incorporated as a closed joint-stock company. It started operations as a branch in 1992.

 

For More IPOs

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read