Al-Samaani Factory for Metal Industries Co. will launch today its initial public offering (IPO) for qualified investors on the Nomu-Parallel Market.
The company plans to sell 225,000 shares, or 20 percent of its capital.
BMG Group is the financial advisor for the offering, which ends on Feb. 12.
The minimum subscription limit is 500 shares, while the maximum is 56,249 shares.
The storage and handling services company will use IPO proceeds to add new production lines worth around SAR 9 million and to support its logistics services by SAR 12 million, after deducting SAR 1 million for IPO costs.
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