Group Five Pipe IPO 1,207.77% oversubscribed, offer price set at SAR 35 per share

Logo of Group Five Pipe Saudi Ltd.

The initial public offering (IPO) of Group Five Pipe Saudi Ltd. on Nomu Parallel Market was successfully closed with the final offer price set at SAR 35 per share, said Aldukheil Financial Group (AFG), the IPO financial advisor.

The IPO was 1,207.77% oversubscribed by qualified investors.

Qualified investors started subscription to 2.8 million shares, or 10% of the company’s capital from Nov. 14-18, 2021.

The company will announce on Nov. 23 the final allocation date. AFG will notify the subscribers of the final allocation and refunds, if any, according to the prospectus.

Excess amounts will be refunded in the two business days following the allocation process by Thursday, Nov. 25 maximum.

Group Five Pipe Saudi shares are expected to begin trading on Nomu soon after the completion of the allocation and excess amount refunds, and finalizing the related the regulatory measures.

Details of Subscription to IPO
Company	Group Five Pipe Saudi Ltd.
Market	Nomu Parallel Market
Core Activities	Production, selling and marketing of steel pipes.
Capital	SAR 280 mln
Number of offered shares	2.8 mln shares
Percentage of capital	10%
Coverage percentage	1207.77%

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CMA approves Group Five Pipe’s request to offer 10% stake on Nomu

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