HSBC Saudi Arabia, SNB Cap announce Nahdi Medical’s intention for IPO on Saudi main market

20/02/2022 Argaam

HSBC Saudi Arabia and SNB Capital, acting as the joint financial advisors, bookrunners, and underwriters, on the potential initial public offering (IPO) of Nahdi Medical Co., announced the company’s intention to proceed with the listing of its ordinary shares on the Saudi Exchange (Tadawul).

 

According to a bourse filing, the company is expected to float 30% of its capital. 

 

Tadawul approved Nahdi Medical’s application for the listing of the shares on the main market on Dec. 19, 2021. Accordingly, the Capital Market Authority (CMA) approved the company’s application for the IPO of 39 million ordinary shares (representing 30% of the share capital) on Dec. 29, 2021.

 

The final offer price will be determined after the book-building period. 

 

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