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