Abdul Aziz Al-Tuwaijri’s Nomu IPO 121.9% covered; offer price set at SAR 25/shr

Logo of Abdul Aziz Al-Tuwaijri Trading Co.

Yaqeen Capital, the financial advisor and lead manger for the initial public offering of Abdul Aziz Al-Tuwaijri Trading Co. on the Nomu-Parallel Market announced finalizing the subscription to one million shares.

In a statement to Tadawul, the company said tat the offer price was set at SAR 25 per share, which is the upper limit for the price range that was previously announced between SAR 22-25.

The offering was 121.85% subscribed, it added.

Yaqeen Capital will finalize the necessary procedures with the Tadawul Group and then set the listing date.

According to Argaam’s data, qualified investors began, on Nov. 2, subscription to one million shares in the company on the Nomu-Parallel Market. The price range was set between SAR 22 and SAR 25 per share.

The shares offered represent 25% of the company’s pre-IPO capital and 20% of post-IPO capital. The company's current capital stands at SAR 40 million, divided into 4 million shares, with a nominal value of SAR 10 per share.