Al-Modawat's offer price on Nomu set at SAR 111/share, IPO 135.8% covered

08/02/2024 Argaam

Al-Modawat's offer price on Nomu set at SAR 111/share, IPO 135.8% covered

Logo of Al-Modawat Specialized Medical Co.

Yaqeen Capital, the financial advisor and lead manager for the initial public offering (IPO) of Al-Modawat Specialized Medical Co. on the Nomu-Parallel Market, announced the conclusion of the offering’s subscription for a total of 475,000 ordinary shares, representing 20% of the company's post-IPO capital.

 

The IPO price for the offered shares was set at SAR 111 per share, with a coverage ratio of 135.75%, according to a filing to the Saudi Exchange (Tadawul) today, Feb. 8.

 

Yaqeen Capital will finalize the required procedures with Tadawul and then determine the date for listing Al-Modawat's shares on Nomu, it added.

 

According to data compiled by Argaam, Al-Modawat floated 475,000 ordinary shares on Nomu, representing 20% of the company's post-IPO capital of SAR 23.75 million divided into 2.38 million shares.

 

Qualified investors’ subscription period ended on Feb. 5.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read