Saudi Top Trading extends subscription period for qualified investors on Nomu

Logo of Saudi Top Trading Co.

Watheeq Capital, Saudi Top for Trading Company’s financial advisor, announced the extension of subscription period for qualified investors on Nomu, to Dec. 7.

The subscription period, which started on Nov. 27, was originally scheduled to close tomorrow, Dec. 1, before the extension.

The company issued a supplementary prospectus on this extension.

Saudi Top Trading offered 880,000 shares, or 22% of its share capital, on Nomu at SAR 133 per share, Argaam earlier reported.

supplementary prospectus to float 73.09 million shares in an initial public offering (IPO) on the Saudi Exchange (Tadawul).

The utility company extended the subscription period to Oct. 30 instead of Oct. 29. Accordingly, the allocated and surplus refund dates were also changed to Nov. 3 and 7, respectively.

The supplementary prospectus also included some amendments to the group’s operations, as well as its financial and operational statements for more accurate clarification.

MARAFIQ earlier set the initial public offering (IPO) price range of SAR 41-46 per share. The book-building process was completed on Oct. 14, Argaam.