Saudi Call scraps plan to float shares on Nomu

22/06/2023 Argaam
Logo ofSaudi Call Trading Co.

Logo of Saudi Call Trading Co.

Saudi Call Trading Co. announced cancelling the initial public offering (IPO) of its shares on Nomu-Parallel Market, the subscription to which was completed on June 11, according to a statement to Tadawul.

 

The cancellation of the offering process is for the purpose of selecting and studying the appropriate existing and upcoming opportunities to offer and list the shares, the company said.

 

The collected subscription amounts will be refunded to the subscribers starting from Sunday, July 2, 2023.

 

Saudi Call added that it will continue to work on its strategic plan to expand and exploit investment opportunities to develop its business.

 

The company announced earlier that qualified investors subscribed to 675,000 shares, or 15% of its capital, with 100.08% coverage. The offer price was set at SAR 69 per share, according to Argaam's data.

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