UMI's Nomu IPO 343.5% covered

Logo of United Mining Industries (UMI)

United Mining Industries Co.’s (UMI) initial public offering (IPO) on Nomu-Parallel Market was 343.55% covered, financial advisor and lead manager Alkhair Capital Saudi Arabia said in a statement to the Saudi Exchange (Tadawul).

The offer price was set at SAR 34 per share.

Alkhair Capital will complete all the requirements and all related regulatory procedures as prescribed by Tadawul to set the debut date on Nomu.

From Sept. 26-Oct. 2, qualified investors subscribed to UMI’s offering of 1.75 million shares, representing 12.5% of its capital of SAR 14 million, divided into 140 million shares, on Nomu, according to data available with Argaam.

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