Gas Arabian Services plans to float 5% stake on Nomu: Falcom

30/12/2021 Argaam

Falcom Financial Services Co. said that Gas Arabian Services Co. plans to offer 790,000 ordinary shares, or 5% of its share capital, on the Nomu Parallel Market, according to a bourse filing.    

 

Falcom is the financial advisor and lead manager of the company’s potential initial public offering (IPO). 

 

The Saudi Exchange (Tadawul) approved, on Nov. 14, the company’s request to list its shares on Nomu. Meanwhile, the Capital Market Authority (CMA) approved, on Dec. 1, the application received from the company to offer 5% of its shares on Nomu. 

 

The share offering price will be determined after the book-building process, and the offering will run from Jan. 23-27, 2022.

 

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