KDL Logistics Nomu IPO 102% oversubscribed

09:08 AM (Mecca time) Argaam- Nomu
KDL Logistics gears up for Nomu debut as its IPO was101.98% oversubscribed.

KDL Logistics gears up for Nomu debut as its IPO was 101.98% oversubscribed.

The initial public offering (IPO) of Khaled Dhafer & Brother’s Logistics Services Co. (KDL Logistics) on the Nomu–Parallel Market was 101.98% oversubscribed, with 298 qualified investors participating during the offering period, according to Arbah Capital, the financial advisor.

 

In a statement to Tadawul, Arbah Capital added it will complete the necessary paperwork and set a date for KDL Logistics debut on Nomu.

 

According to the IPO data on Argaam, qualified investors started subscription to 700,000 shares on Nov. 30. The offer price was set at SAR 23 per share.

 

The subscription period, originally scheduled to run for four business days through Dec. 3, was later extended to Dec. 16.

 

The offered shares represent 20% of the company’s capital, which currently stands at SAR 35 million, divided into 3.5 million shares with a par value of SAR 10 apiece.

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