Ghida Al-Sultan's Nomu IPO 109% covered

23/03/2023 Argaam
Logo of Ghida Al-Sultan Co.

Logo of Ghida Al-Sultan Co.

Alinma Investment Co., the financial advisor and lead manager on the initial public offering (IPO) of Ghida Al-Sultan Co. on Nomu-Parallel Market, announced the completion of the subscription at an offering price of SAR 84 a share.

The IPO was 108.96% covered, Alinma Investment stated in a statement to Tadawul.

 

The brokerage added that the required procedures will be finalized with Saudi Tadawul Group Holding Co. (Tadawul Group), before determining the date for share listing on Nomu.

 

Between March 12-19, qualified investors subscribed to 640,000 shares, or 20% of Ghida Al-Sultan's share capital, with the IPO priced at SAR 84/share, according to data available with Argaam.

 

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