Alshehili’s Nomu IPO 231.76% covered

04:24 PM (Mecca time) Argaam
Logo ofAlshehili Co.

Logo of Alshehili Co.

Alshehili Co. completed its initial public offering (IPO) on Nomu-Parallel Market, with qualified investors subscribing to the 500,000 offered shares, representing 20% of post-IPO capital (or 25% of pre-IPO capital), financial advisor Forsa Capital said in a statement to Tadawul today, Jan. 15.

 

The IPO was 231.76% oversubscribed, with a final offering price of SAR 80 apiece.  

 

For More IPOs

 

Forsa Capital will finalize the required procedures with the Saudi Exchange (Tadawul) and determine the listing date on Nomu. 

 

According to data available with Argaam, qualified investors started on Jan. 5 subscription to Alshehili’s 500,000 share offering. The price range was set between SAR 80-76 a share.

 

The offered shares represented 25% of its pre-IPO capital of SAR 20 million, divided into two million shares, at a nominal value of SAR 10 each. However, these shares make up 20% of the post-IPO capital.

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