Osool & Bakheet IPO on Nomu 195% covered at SAR 45/shr by third day

18/10/2023 Argaam

Osool & Bakheet IPO on Nomu 195% covered at SAR 45/shr by third day

Logo of Osool & Bakheet Investment Co.

The initial public offering (IPO) of Osool & Bakheet Investment Co. has been nearly 195% covered by the end of the third day of its offering, as investors have so far subscribed to around 2.92 million shares, Amwal Financial, the financial advisor on the initial public offering (IPO).

 

The offering was priced at the top of its range at SAR 45 per share, Amwal said in a statement to Tadawul.

 

The book-building process will close on Oct. 19. Refunds will be made no later than Oct. 26.

 

Once the IPO is closed, Amwal will complete the necessary paperwork with the Saudi Exchange (Tadawul) to set a date for listing the company’s shares on the Nomu-Parallel Market, the statement added.

 

Qualified investors started on Oct. 15 subscribing to 1.5 million shares of Osool & Bakheet, Argaam earlier reported.

 

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