Qomel offer price set at SAR 80/share

Logo of Qomel Co.

Watheeq Capital, the financial advisor on the initial public offering of Qomel Co. on Nomu-Parallel Market, announced that the latter’s offering price was set at SAR 80 per share.

The initial public offering (IPO) will run between April 21-25, according to a statement to Tadawul today, April 18.

For More IPOs

The company will float 500,000 shares on Nomu, representing 14.29% of its post-IPO capital of SAR 35 million (3.5 million shares). The offering will be carried out through a capital increase by issuing new shares to qualified investors.

Qomel's activities are represented in acting as an agent/distributor for a number of multi-national firms specialized in the manufacturing and production of specialty pharmaceuticals and medical equipment. It sells medicines, dental supplies, and medical devices Kingdom-wide.