Sahat Almajd Nomu offering price set at SAR 7/shr

08:50 AM (Mecca time) Argaam- Nomu
Logo ofSahat Almajd Co.

Logo of Sahat Almajd Co.

Value Capital, the financial advisor and lead manager of the potential initial public offering (IPO) of Sahat Almajd Trading Co., set the offer price at SAR 7 per share, according to a statement to Tadawul.

 

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The subscription period for qualified investors will run from Oct. 19 to 23, the statement added.

 

According to data available with Argaam, Sahat Almajd plans to float 4.38 million shares, representing 11.11% of its post-IPO capital, on Nomu.

 

The company's pre-IPO capital amounted to SAR 35 million, divided into 35 million shares, at a par value of SAR 1 apiece, representing 12.5% of the total capital offered.

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