Qomel Nomu IPO 274.5% covered

Logo of Qomel Co.

Watheeq Capital, the financial advisor on the initial public offering (IPO) of Qomel Co. on the Nomu-Parallel Market, said the latter’s offering was 274.52% covered.

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Watheeq Capital will complete the necessary procedures with Saudi Tadawul Group Holding Co. (Tadawul Group), before setting Qomel shares’ listing date on Nomu.

The company earlier floated 500,000 shares on Nomu, representing 14.29% of its post-IPO capital of SAR 35 million (3.5 million shares), according to Argaam’s data.