Armah Sports IPO 404% oversubscribed, offering price set at SAR 28

22/11/2023 Argaam

Armah Sports IPO 404% oversubscribed, offering price set at SAR 28

Logo of Armah Sports Co.

Saudi Fransi Capital (SFC) announced that Armah Sports Co.’s initial public offering (IPO) on the Nomu-Parallel Market was 404% oversubscribed and the offering price was set at SAR 28 per share.

 

SFC is the financial advisor and lead manager on Armah Sports’ IPO on Nomu.

 

SFC will finalize all the listing regulatory requirements with Saudi Tadawul Group and announce the share listing date.

 

Armah Sports offered 4.93 million shares, or 15% of its capital. The price range was set at SAR 26-28 per share.

 

The offering consists of selling 821,292 existing shares and issuing 4.11 million ordinary shares.

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