ProMedEx IPO 449.3% covered at SAR 68 a share

20/07/2023 Argaam

ProMedEx IPO 449.3% covered at SAR 68 a share

Logo of Professional Medical Expertise Co. (ProMedEx)

Professional Medical Expertise Co.’s (ProMedEx) initial public offering (IPO) on Nomu-Parallel Market was 449.27% covered, financial advisor and lead manager Saudi Fransi Capital said in a statement to Tadawul. 

 

The offer price was set at SAR 68 per share.  

 

Saudi Fransi Capital will complete all the requirements and all related regulatory procedures as prescribed by Saudi Tadawul Group to set the debut date on Nomu. 

 

On July 9, 2023,  ProMedEx floated 1.05 million shares, representing 30% of its capital of SAR 35 million, divided into 3.5 million shares, according to data available with Argaam. 

 

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