ITMAM Consulting’s Nomu IPO 230.25% covered

Logo of ITMAM Consulting Co.

ITMAM Consulting Co. completed the initial public offer (IPO) on Nomu-Parallel Market, with qualified investors subscribing to the three million offered shares, representing 14.29% of the post-IPO capital, financial advisor Yaqeen Capital said in a statement to Tadawul today, Jan. 15.

The IPO was 230.25% oversubscribed, with a final offering price of SAR 15 apiece.

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Yaqeen 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 ITMAM Consulting’s three million offered shares on Nomu, at a price range of SAR 13-15.

The offered shares represented 15% of pre-IPO capital of SAR 20 million, divided into 20 million shares, at a nominal value of SAR 1 apiece. This will translate into 14.29% of post-IPO capital.