Group Five Pipe IPO 1,207.77% oversubscribed, offer price set at SAR 35 per share

22/11/2021 Argaam

Logo of Group Five Pipe Saudi Ltd.

The initial public offering (IPO) of Group Five Pipe Saudi Ltd. on Nomu Parallel Market was successfully closed with the final offer price set at SAR 35 per share, said Aldukheil Financial Group (AFG), the IPO financial advisor.

 

The IPO was 1,207.77% oversubscribed by qualified investors.
 

Qualified investors started subscription to 2.8 million shares, or 10% of the company’s capital from Nov. 14-18, 2021.
 

The company will announce on Nov. 23 the final allocation date. AFG will notify the subscribers of the final allocation and refunds, if any, according to the prospectus.

 

Excess amounts will be refunded in the two business days following the allocation process by Thursday, Nov. 25 maximum.

 

Group Five Pipe Saudi shares are expected to begin trading on Nomu soon after the completion of the allocation and excess amount refunds, and finalizing the related the regulatory measures.

  

Details of Subscription to IPO

Company

Group Five Pipe Saudi Ltd.

Market

Nomu Parallel Market

Core Activities

Production, selling and marketing of steel pipes.

Capital

SAR 280 mln

Number of offered shares

2.8 mln shares

Percentage of capital

10%

Coverage percentage

1207.77%

 

 

 For More IPOs

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