ASG Plastic Factory IPO on Nomu 321% oversubscribed; offer price set at SAR44

Logo of ASG Plastic Factory Co.

Yaqeen Capital, the financial advisor and lead manager on the initial public offering (IPO) of ASG Plastic Factory Co. on Nomu-Parallel Market, announced that the subscription to 750,000 shares was completed with 321% coverage.

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The offer price was set at the maximum limit of the price range, at SAR 44 per share.

Qualified investors began, on July 28, subscribing to 750,000 shares of ASG, which is set to list on the Nomu-Parallel Market at a price range of SAR 40-44 per share, data available to Argaam showed.

The offered shares represent 10.64% of post-IPO capital of SAR 70.5 million, or 11.90% of pre-IPO capital, divided into 7.05 million shares, at a par value of SAR 10 each.

The subscription period for qualified investors ran until Aug. 5.