TAM IPO 140.7% covered, final offer price at SAR 130/share

30/05/2023 Argaam
Logo ofTAM Development Co.

Logo of TAM Development Co.

TAM Development Co. finalized the initial public offering (IPO) of 585,600 shares, representing 16% of its capital, according to Yaqeen Capital, the financial advisor, bookrunner, lead manager and underwriter on the offering.

 

The final offer price was set at SAR 130 per share, adding that the IPO was covered by 140.70% during the subscription period from May 21-25.

 

The brokerage will finalize the required procedures with the Saudi Exchange (Tadawul) and then determine the date for listing of the shares on Nomu–Parallel Market.

 

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