Gulf Steel Works (GSW) will close its initial public offering (IPO) on the Nomu Parallel Market tomorrow, December 18.

 

The share allotment and surplus refunds is expected to be announced by December 19.

 

The steel manufacturer is offering 6 million shares, or 30 percent of capital, on Nomu from Nov. 27 to Dec. 18, Argaam earlier reported.

 

GSW, owned by Pan Gulf Holding, manufactures equipment and heavy steel structures for the hydrocarbon processing industries, fertilizers, process chemicals and primary utilities.

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