UMI sets price range between SAR 31-34/share for IPO on Nomu

Logo of United Mining Industries (UMI)

United Mining Industries Co. (UMI) set the price range for its initial public offering (IPO) on the Nomu-Parallel Market at SAR 31-34 per share, said AlKhair Capital Saudi Arabia, the financial advisor and lead manager on the potential offering.

 

The book-building process for qualified investors will run from Sept. 26 to Oct. 2, according to a statement on Tadawul.

 

The company plans to float 1.75 million shares on Nomu, representing 12.5% of its capital reaching SAR 140 million, Argaam earlier reported.

 

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