Al-Hokail Academy cancels IPO on Nomu

Logo of Al-Hokail Academy Specialized Digital Polyclinics Co.

Al-Hokail Academy Specialized Digital Polyclinics Co., in consultation with its financial advisor, decided to cancel its initial public offering (IPO) on the Nomu-Parallel Market of the Saudi Exchange.

In a statement to Tadawul, the company said that this is in order to ensure the interest of investors and shareholders. This comes with the aim of ensuring the best possible conditions for listing, and the company aims with this decision to enhance the confidence of investors and shareholders in the strength and sustainability of its business.

For more IPOs

The company is confident of its strategy and future prospects and decided that it would be in the best interests of its shareholders and investors to return to the market at a later stage, the statement added.

According to data available on Argaam, Al-Hokail Academy intended to float 2.03 million shares on Nomu. The offered shares represent 29% of the company’s capital, amounting to SAR 70 million, divided into seven million shares.

The offering was supposed to run from July 17-21, 2024. The offering price range was set at SAR 118-125 per share