Al Razi Medical IPO on Nomu priced between SAR 24-28/share

Logo of Al Razi Medical Co.

Al Razi Medical Co. set the initial public offering (IPO) price range at SAR 24-28 per share, according to TeamOne Co., the financial advisor on the potential offering.

 

The book-building process for institutional investors will run through June 4-6.

 

Al Razi announced plans to offer 304,000 shares, or 20% of its SAR 15.2 million, to the public on Nomu, Argaam earlier reported.

 

The share sale was approved by the Capital Market Authority (CMA) on April 3.

 

The offering will be confined to qualified investors.

 

Al Razi Medical is a closed Saudi joint stock company, established as a sole proprietorship in 2006. It is headquartered in Al Badayea city.

 

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