Dar Almarkabah IPO on Nomu 1,780% covered at SAR 40/shr

Logo of Dar Almarkabah for Renting Cars Co.

Dar Almarkabah for Renting Cars Co.’s initial public offering (IPO) on Nomu-Parallel Market was completed, with the offer price set at SAR 40 per share, Watheeq Capital, the financial advisor, said.

In a Tadawul filing today, Aug. 20, Watheeq Capital indicated that the IPO was 1,780% oversubscribed.

According to Argaam’s data, the company floated on Nomu 500,000 ordinary shares, or 20% of its issued capital after top-up, divided into two million shares. The subscription period for qualified investors ran for five days until Aug. 17.

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