Munawla Cargo IPO 2,113.4% covered

04/09/2023 Argaam
Logo ofMunawla Cargo Co.

Logo of Munawla Cargo Co.

Watheeq Capital, the financial advisor on Munawla Cargo Co.'s initial public offering (IPO) on Nomu-Parallel Market, announced the completion of the offering. A total of 200,000 shares were floated, representing 20% of the company's capital.

 

In a statement to Tadawul, Watheeq added that the offering price was set at SAR 110 per share, with a coverage ratio of 2,113.4%. 

 

The IPO ran from Aug. 27-31.

 

The financial advisor noted that it will complete the necessary procedures with the Saudi Tadawul Group to determine the stock listing date.

 

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