SAMA Water IPO coverage at 239.27%, price set at SAR 2.7/share

Logo of SAMA Healthy Water Factory Co.

SAMA Healthy Water Factory Co. set the price for its initial public offering (IPO) on Nomu-Parallel Market at 2.7 per share, financial advisor and leader manager Yaqeen Capital said in a statement to Tadawul.

The subscription was 239.27% covered, according to the statement.

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The brokerage will finalize the necessary procedures with the Saudi Exchange (Tadawul) and then announce the listing date for SAMA Water's shares on Nomu.

SAMA Water offered 10 million shares, representing 20% of its capital on Nomu, with a nominal value of SAR 1 per share, according to data available with Argaam.

The price range was set between SAR 2.50 and SAR 2.70 per share.