Naqawa sets IPO price range on Nomu at SAR 6-8/shr

Logo of Naqawa for Information Technology Co.

Naqawa Information Technology Co. set the price range for its initial public offering on the Nomu-Parallel Market between SAR 6-8 per share, financial advisor and underwriter Yaqeen Capital said.

The book-building process for institutional investors will start on Oct. 16 and continue until Oct. 22, the company said in a statement on Tadawul.

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Naqawa plans to offer three million shares on Nomu, representing 20% of its post-offering capital. The company's current capital is SAR 15 million, divided into 15 million shares with a nominal value of SAR 1 per share.