Al-Modawat sets SAR 93-111/share price range for IPO on Nomu

Logo of Al-Modawat Specialized Medical Co.

Yaqeen Capital, the financial advisor and lead manager on the initial public offering (IPO) of Al-Modawat Specialized Medical Co. on the Nomu-Parallel Market, set the offering price range between SAR 93-111 per share.

The book-building process for qualified investors will run from Jan. 28 until Feb. 5, according to a statement to Tadawul.

Al-Modawat earlier announced plans to float 475,000 shares on Nomu, constituting 20% of its post-IPO capital of SAR 23.75 million, divided into 2.37 million shares, according to data available on Argaam.