Al Kuzama IPO on Nomu 108.4% covered

Logo of Al Khuzama Trading Co.

Yaqeen Capital, the financial advisor and lead manager for the initial public offering (IPO) of Al Kuzama Trading Co., announced the completion of the offering of 422,400 shares on the Nomu-Parallel Market.

In a statement on Tadawul today, May 26, the brokerage said the offering was 108.38% oversubscribed during the subscription period from May 18-22, at SAR 107 a share.

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Yaqeen Capital will finalize the required procedures with Tadawul, before determining Al Kuzama’s debut date.

According to Argaam’s data, Al Kuzama earlier announced floating 422,400 shares on Nomu, at a nominal value of SAR 10 each.

These shares represent 12% of the company's pre-IPO capital,

They make up 10.71% of the post-IPO capital.

The company was established in 2013 in Riyadh as a sole proprietorship. It later converted into a limited liability company, and then into a joint stock company in 2021. Al Khuzama's core business includes operating premium restaurants and beverage outlets, as well as organizing upscale events.