Lana Medical plans 20% IPO on Nomu

03/10/2023 Argaam

Lana Medical Co. plans to float 720,000 ordinary shares, representing 20% of its capital, in an initial public offering (IPO) on Nomu-Parallel Market, Yaqeen Capital Co., financial advisor and lead manager on the potential offering, said on Tadawul.

 

The Saudi Exchange (Tadawul) approved the company’s application for the listing on Feb. 26, 2023, while the Capital Market Authority (CMA) approved the offering on June 20, 2023.

 

The offering price will be determined after the book-building period, the statement noted, adding that the offering period will run from Nov. 12-16, 2023.

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