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Aldukheil says Group Five Pipe offering price on Nomu set at SAR 35
AI Summary
Content Summary: 
Logo of Group Five Pipe Saudi Ltd.
Aldukheil Financial Group (AFG), financial advisor for the initial public offering (IPO) of Group Five Pipe Saudi Ltd. on Nomu – Parallel Market, stated that the offering price was set at 35 per share, according to a filing to Tadawul.
The subscription period will begin on Sunday, Nov. 14, and end on Thursday, Nov. 18.
On Sept. 29, the Capital Market Authority (CMA) approved a request by Group Five Pipe to offer 2.8 million shares, or 10% of its share capital, on Nomu.
|
Company Profile |
|
|
Company |
Group Five Pipe Saudi Ltd. |
|
Market |
Nomu Parallel Market |
|
Core Activities |
Production, sale, and marketing of spirally welded steel pipes |
|
Capital |
SAR 280 mln |
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IPO Summary |
|
|
Issue Percentage |
10% |
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Number of Shares Offered |
2.8 mln |
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Qualified Subscribers |
Qualified investors as defined in the glossary used in CMA's regulations and rules |
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Minimum Limit |
10 shares |
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Maximum Limit |
1,372,000 shares |
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Subscription Period |
Subscription will run from Nov. 14-18 |
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Final Allotment |
Nov. 23 |
|
Surplus Refunds |
Nov. 25 |
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| Group Five Pipe Saudi issues prospectus for IPO on Nomu |
| CMA approves Group Five Pipe’s request to offer 10% stake on Nomu |
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