Lamsat’s Nomu IPO 1,101.3% oversubscribed at SAR 5.75/shr

Logo of Lamasat Co.

Yaqeen Capital, the financial advisor and lead manager on the potential offering of six million (7.41%) of Lamasat Co.’s share capital on Nomu-Parallel Market, said the IPO price was set at SAR 5.75 a share.

In a statement on Tadawul today, Jan. 30, the brokerage said the offering was 1,101.3% oversubscribed during the subscription period from Jan. 20-27.

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Yaqeen Capital will finalize the required procedures with the Saudi Tadawul Group Holding Co. (Tadawul Group), before determining the listing date on Nomu.

According to Argaam data, Lamsat floated earlier 6 million shares, representing 8% of the company's pre-IPO capital, valued at SAR 75 million, divided into 75 million shares with a nominal value of SAR 1 each. These shares also constitute 7.41% of the company's SAR 81 million post-IPO capital.