Foods Gate sets price range for IPO on Nomu at SAR 50-56 per share

09/03/2023 Argaam
Logo ofFoods Gate Co. (FG)

Logo of Foods Gate Co. (FG)

Foods Gate Co. (FG) set the price range for its initial public offering (IPO) on Nomu-Parallel Market between SAR 50 and SAR 56 per share, Yaqeen Capital, the financial advisor and lead manager, said in a statement to Tadawul.

 

The book-building process for qualified investors will run from March 12-16, 2023.

 

The company plans to float 420,000 ordinary shares, or 20% of its issued capital.

 

In November 2022, the Capital Market Authority (CMA) approved the company's request to offer and list its shares on Nomu, according to data available with Argaam.

 

Foods Gate, established in Riyadh in May 2005, offers accommodation and food services. It is mainly specialized in establishing restaurants to sell a range of Japanese-style food and beverages.

 

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