Marble Design sets offering price on Nomu at SAR 56/share

Logo of Marble Design Factory Co.

Yaqeen Capital, the financial advisor and lead manager on the initial public offering (IPO) of Marble Design Factory Co. on Nomu-Parallel Market, announced the completion of subscription to 600,000 of the latter’s ordinary shares, representing 10% of capital.

The offering price was set at SAR 56 per share, said the company in a statement to Tadawul today, Aug. 1, adding that the IPO was 705.57% covered.

Yaqeen Capital will finalize the required IPO-related procedures with Saudi Tadawul Group Holding Co. (Tadawul Group), and then determine the date for the stock listing on Nomu.

For five days as of July 23, qualified investors subscribed to 600,000 shares, or 10% of Marble Design's share capital.

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