Horizon Educational IPO 681.98% oversubscribed

26/05/2024 Argaam
Logo of Horizon Educational Co.

Logo of Horizon Educational Co.

Yaqeen Capital, the financial advisor and lead manager on the Horizon Educational Co. offering on the Nomu-Parallel Market, announced the completion of floating 500,000 shares, equivalent to 20% of its post-IPO capital. 

 

The offering price was set at SAR 54 per share, while IPO coverage ratio reached 681.98%, according to a statement to the Saudi Exchange (Tadawul). 

 

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The necessary procedures will be completed with Tadawul to set the company’s listing date on Nomu, the statement added. 

 

According to data available on Argaam, subscription for qualified investors for 500,000 shares of Horizon Educational, scheduled for listing on Nomu, ran from May 12 to May 20. 

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