Wajd Life’s Nomu IPO 179.34% covered at SAR 5.7/shr

Logo of Wajd Life Trading Co.

Yaqeen Financial, in its capacity as financial advisor and lead manager on Wajd Life Trading Co.’s IPO on the Nomu-Parallel Market, announced the completion of the offering of 2.5 million ordinary shares (20% of the company’s total shares).

In a statement to Tadawul today, Sept. 9, the company said the final offer price was set at SAR 5.7 per share.

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Coverage reached 179.34% of the total offered shares.

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

Qualified investors subscribed for 2.5 million shares of Wajd Life between Aug. 31 and Sept. 4, according to Argaam data.

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 10 million and will increase to SAR 12.5 million post-offering, divided into 12.5 million shares at a nominal value of SAR 1 each.