Wasatah Capital says Raoom's IPO 740.8% oversubscribed

08/02/2022 Argaam

Logo of Raoom Trading Co.

Wasatah Capital, the financial advisor for the initial public offering (IPO) of Raoom Trading Co. on Nomu - Parallel Market, announced the completion of the offering process for 1 million ordinary shares representing 20% of the company’s shares, at SAR 80 per share, with 740.8% coverage, according to a bourse filing.

 

Wasatah Capital and Al Nefaie Investment Group, which is the lead manager, will finalize the required procedures with the Saudi Exchange (Tadawul) and determine the date for the listing of the company's shares on Nomu.

 

Qualified investors started on Jan. 30 subscription to 1 million shares, with an IPO price of SAR 80 per share. The subscription period ran for five days until Feb. 3, according to Argaam's data.

 

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