Service Equipment’s Nomu IPO 147% covered, price set at SAR 84/share

21/04/2025 Argaam
Logo ofService Equipment Co.

Logo of Service Equipment Co.

Service Equipment Co. closed its initial public offering (IPO) for 720,000 ordinary shares, or 30% of its capital. The IPO price was set at SAR 84 per share, Yaqeen Capital Co., the financial advisor and lead manager, said.


In a statement on Tadawul, Yaqeen Capital said the offering was 147.02% covered during the subscription period starting April 13 until April 17, 2025.

 

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The brokerage will finalize the necessary procedures with the Saudi Exchange (Tadawul) and then announce the listing date for Service Equipment's shares on Nomu, the statement added.


According to data available with Argaam, Service Equipment offered 720,000 shares for qualified investors, with a price range of SAR 80 -84 per share. These shares represent 30% of its SAR 24 million capital, divided into 2.4 million share at a par value of SAR 10 per share.

 

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