Al Wasail Industrial institutional offering 16.2x covered, final offer price set at SAR 19/share

03/01/2022 Argaam

Logo of Al Wasail Industrial Co.

FALCOM Financial Services, as the financial advisor and lead manager of the potential initial public offering (IPO) of Al Wasail Industrial Co. on the parallel market (Nomu), announced the successful completion of offering of 2.5 million ordinary shares representing 10% of total capital.

 

In a bourse statement, the final offer price was set at SAR 19 per share, with a coverage of 16.2x.

 

FALCOM will finalize the required procedures with the Saudi Exchange (Tadawul) and then determine the date for listing of the shares of Al Wasail on Nomu, the statement added.

 

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