Riyadh Steel IPO on Nomu priced at SAR 17/share

01/11/2023 Argaam

Riyadh Steel IPO on Nomu priced at SAR 17/share

Logo of Riyadh Steel Co.

Alinma Investment Co., the financial advisor on the initial public offering of Riyadh Steel Co. on Nomu-Parallel Market, announced that the offering price was set at SAR 17 per share, according to a statement to Tadawul today, Nov. 1. 

 

Qualified investors who have active investment accounts with any licensed financial institution can subscribe to the offering through the electronic subscription system provided by lead manager Alinma Investment, it added. 

 

The share sale will run from Nov. 5-13. It will be limited to qualified investors stipulated in the glossary of defined terms used in the regulations and rules of the Capital Market Authority (CMA), according to Argaam's data. 

 

The company plans to offer one million shares, or 20% of its capital amounting to SAR 50 million, divided into five million shares. 

 

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