Neft Alsharq to float 5M shares on Nomu on May 26

06/05/2024 Argaam

Yaqeen Capital, the financial advisor and lead manager on the potential offering of Neft Alsharq Co. for Chemical Industries, announced that the company will float 5 million ordinary shares, or 20% of its post-IPO capital, on Nomu-Parallel Market, according to a statement to Tadawul.

 

The offering period will begin on Sunday, May 26, until Sunday, June 2, 2024.

 

The company obtained the approval of the Saudi Exchange (Tadawul) on the share offering on Dec. 12, 2023. It also obtained the Capital Market Authority's (CMA) nod on the IPO on March 13, 2024.

 

The IPO final price for all subscribers will be determined after the book-building period.

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