National Building IPO fully subscribed, says Kasb Capital

The initial public offering (IPO) of National Building & Marketing Co. on the Nomu parallel market closed 100.22 percent subscribed on Sunday, according to Kasb Capital, the offering’s financial advisor and lead manager.

Shares were priced at SAR 27 each, the firm said, adding that the allotment and surplus refund will be latest by Sunday, April 15.

The company offered 20 percent of capital, or 1.2 million shares, in an IPO that ran from April 1 to April 8.