Lavenco prices Nomu offering at SAR 48/shr

Lavenco plans to float 300,000 ordinary shares on Nomu in an offering that will run between Nov. 12-18

Zahr Al Khuzama Aluminum Co.’s (Lavenco) potential offering on the Nomh-Parallel Market was priced at SAR 48 a share, financial advisor Amwal Capital said in a Tadawul statement today, Oct. 27.

 

According to Argaam’s data, Lavenco plans to float 300,000 ordinary shares on Nomu. The offered shares represent 25% of its pre-IPO capital of SAR 12 million, divided into 1.2 million shares at SAR 10 per share. Meanwhile, they account for 20% of post-IPO capital of SAR 15 million.

 

The share sale will run for five working days from Nov. 12-18.

 

Lavenco was established as a sole proprietorship under the name Zahr Al Khuzama Aluminum Factory in 2016.

 

Its core business activities include the manufacture of aluminum and glass doors and windows, as well as the production of metal structures and components made of aluminum and iron (such as glass support frames). The company also specializes in the manufacturing of glass facades and cladding panels.

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