Multi-Business Group IPO on Nomu 265% covered, priced at SAR 15/shr

08:46 AM (Mecca time) Argaam
Logo ofMulti Business Group for Projects Co. (MBG)

Logo of Multi Business Group for Projects Co. (MBG)

The initial public offering (IPO) of Multi Business Group for Projects Co. (MBG) on the Nomu-Parallel Market was priced at SAR 15 per share, Amwal Capital, the financial advisor, said in a statement to Tadawul.

 

The offering was 265% oversubscribed.

 

For More IPOs

 

The surplus refund will take place no later than Nov. 25.

 

A minimum of 10 shares were allocated to each subscriber. Rump shares will be allocated on a pro rata based on demand size.

 

Qualified investors started, on Nov. 12, subscribing to three million shares offered by MBG. The price range was set between SAR 13 and 15 per share.

 

The shares on offer represent 25% of the company’s pre-IPO capital, divided into 12 million shares at a nominal value of SAR 1 each. These shares account for 20% of MBG’s post-IPO capital.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.