Digital Research IPO on Nomu 312.7% oversubscribed

Logo of Digital Research Co. (DRC)

Value Capital, the financial advisor and lead manager for Digital Research Co.'s (DRC) initial public offering (IPO) on the Nomu-Parallel Market, announced the successful completion of the offering. The 337,500 ordinary shares, representing 20% of the post-IPO capital, were oversubscribed at 312.66%.

The IPO’s final offer price was set at SAR 83, Value Capital stated, adding that it will finalize the required procedures with the Saudi Exchange (Tadawul) before announcing the listing date for DRC shares on Nomu.

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According to data available to Argaam, DRC offered 337,500 shares on the Nomu-Parallel Market at SAR 83 per share. The offered shares represent 22.5% of pre-IPO capital of SAR 15 million, divided into 1.5 million shares, or 20% of post-IPO capital. The company's post-IPO capital will increase to SAR 16.88 million, divided into 1.69 million shares at a par value of SAR 10 each.