Al Battal Factory IPO 203.5% covered, offering price set at SAR 63/share

Logo of Al Battal Factory for Chemical Industries Co.

Yaqeen Capital, the financial advisor and lead manager on the potential offering of Al Battal Factory for Chemical Industries Co., said the IPO price was set at SAR 63 a share, with a coverage ratio of 203.53%.

For More IPOs

Yaqeen Capital will finalize the required procedures with the Saudi Tadawul Group Holding Co. and then determine the listing date on the Nomu-Parallel Market. Investors started, on Dec. 15, subscription to Al Battal Factory's 670,000 shares on Nomu. The price range was set between SAR 54 and SAR 63 a share.

The shares on offer represent 20.09% of the company's post-IPO capital of SAR 33.35 million, and 22.33% of the pre-IPO capital.

The company's capital will be raised to SAR 33.35 million, divided into 3.34 million shares, at a par value of SAR 10 each.