Signworld’s Nomu IPO 108.7% covered at SAR 12/shr

Signworld’s current capital stands at SAR 60 million and will increase to SAR 70 million after the offering

Yaqeen Financial, in its capacity as financial advisor and lead manager on National Plates Manufacturing Co.’s (Signworld) IPO on Nomu-Parallel Market, announced the completion of the offering of 1.5 million ordinary shares.

In a statement to Tadawul today, Aug. 26, the company said the final offer price was set at SAR 12 per share — the base limit of the previously announced price range of SAR 12-15 apiece.

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Coverage reached 108.74% of the total offered shares.

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

According to Argaam data, subscription by qualified investors to the 1.5 million shares of Signworld ran between Aug. 17-24.

The offered shares represented 20% of the company’s post-IPO capital and 25% of its pre-IPO capital.

The company’s current capital stands at SAR 60 million and will increase to SAR 70 million post-offering, divided into 7.5 million shares at a nominal value of SAR 10 each.