Al Ashghal Al Moysra IPO on Nomu 430.8% oversubscribed at SAR 50/share

Logo of Al Ashghal Al Moysra Co.

Yaqeen Capital, in its capacity as financial advisor and lead manager on the initial public offering (IPO) of Al Ashghal Al Moysra Co. on the Nomu-Parallel Market, announced completion of the offering, with the final IPO price set at SAR 50 per share — the price range upper limit.

The offering was 430.8% covered during the subscription period from July 7-15, Yaqeen Capital said in a statement to Tadawul.

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The brokerage will finalize the required procedures with Tadawul, before determining the listing date of Al Ashghal Al Moysra’s shares on Nomu, it added.

According to data compiled by Argaam, qualified investors started on July 7 subscription to 480,000 shares of Al Ashghal Al Moysra on Nomu, at a price range of SAR 35-50 per share.

The offered shares represented 20% of the company's SAR 24 million capital, divided into 2.4 million shares, at a par value of SAR 10 apiece.

The subscription period for qualified investors ran until July 15.