Molan Steel Co. plans to offer and list 532,414 ordinary shares, representing 20.02% of its capital, on Nomu - Parallel Market, Yaqeen Capital Co., the financial advisor and lead manager on the potential initial public offering (IPO), said in a statement published on the Tadawul.
The Saudi Exchange (Tadawul) approved Molan Steel's application to list its shares on Nomu on Dec. 5, 2021, while the Capital Market Authority (CMA) approved the application on Sept. 26, 2022.
The offering period will run from Nov. 20 until Nov. 22, 2022. the statement said, adding the offering price would be determined after the book-building period.
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