Qahtani Auction sets IPO price range between SAR 68-78 per share

Saud Qahtani Auction Co. has set the price range for its upcoming initial public offering (IPO) between SAR 68 and SAR 78 per share, financial advisor Musharaka Capital said in a statement on Tuesday.

The maximum and minimum subscription limits were set at 99,999 shares and 10 shares, respectively.

The company will float 780,000 ordinary shares, or 39 percent of its SAR 20 million capital to qualified investors, Musharaka said, adding it will receive subscription applications from Feb. 14 to Mar. 4, 2019.

On Sept. 27, 2018, the Capital Market Authority (CMA) approved the listing of 780,000 shares of Qahtani Auction on the Nomu parallel market, Argaam earlier reported.