Amwal Financial completes RATIO IPO allocation, refunds

Logo of Ratio Specialty Trading Co. (RATIO)

Amwal Financial, the financial advisor for Ratio Specialty Trading Co.’s (RATIO) IPO on the Nomu-Parallel Market, announced today, Feb. 27, the successful completion of its subscription, allocation, and refunds, as outlined in the prospectus.

Procedures are underway with the Capital Market Authority (CMA) and the Saudi Exchange (Tadawul) to finalize the listing and registration of RATIO’s shares on Nomu, Amwal Financial said in a statement to Tadawul.

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It added that updates on the listing will be provided on the Tadawul website.

RATIO floated five million shares on Nomu at SAR 10 per share, representing 25% of the company's SAR 20 million capital, divided into 20 million shares at a par value of SAR 1 each. The offering was 865% oversubscribed, according to Argaam's data.