Hedab Alkhaleej IPO on Nomu 172.96% oversubscribed at SAR 52/shr

Logo of Hedab Alkhaleej Trading Co.

Yaqeen Capital, the financial advisor and lead manager for the initial public offering (IPO) of Hedab Alkhaleej Trading Co. on the Nomu-Parallel Market, announced the completion of the offering for 800,000 ordinary shares, representing 10.67% of the company’s shares, at a final price of SAR 52 per share.

According to Tadawul, the IPO was 172.96% oversubscribed during the offering period, which ran from Feb. 16-20.

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Yaqeen Capital will finalize the required procedures with the Saudi Tadawul Group Holding Co. before determining the listing date.

Hedab Alkhaleej floated 800,000 shares, or 11.94% of its SAR 67 million capital, which is divided into 6.7 million shares at a par value of SAR 10 each, according to data available with Argaam.

Following the offering, the issued shares represent 10.67% of the company’s post-IPO capital, which will increase to SAR 75 million, divided into 7.5 million shares.