Osool & Bakheet sets price range for IPO on Nomu at SAR 37-45/share

Logo of Osool & Bakheet Investment Co. (OBIC)

Osool & Bakheet Investment Co. (OBIC) set the price range for its initial public offering (IPO) on the Nomu-Parallel Market between SAR 37 and SAR 45 per share, said Amwal Financial, the financial advisor on the offering.

The book-building period for qualified investors will run from Oct. 15-19.

The company will float 1.5 million shares, or 18.52% of its post-IPO capital of SAR 81 million, which is divided into 8.1 million shares.

OBIC will issue 2.1 million new shares, representing 25.92% of its post-increase capital, of which 1.5 million shares will be offered to qualified investors. A total of 600,000 shares, representing about 7.40% of capital, will be allocated to the employee incentive program as treasury shares.

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