Al-Hasoob IPO 2,318% oversubscribed at SAR 95 per share

28/10/2021 Argaam

Logo of Al-Hasoob Trading Co.

The initial public offering (IPO) of Al-Hasoob Trading Co. on Nomu Parallel Market was successfully closed with the final offer price set at SAR 95 per share.

 

The offering was 2,318% oversubscribed with over SAR 650 million worth of orders placed on more than 6.5 million shares, Darfin Capital -the offering financial advisor- said in a statement today, Oct. 28.

 

Qualified investors have taken up 280,000 shares, which account for 20% of the company’s capital.

 

Darfin Capital will coordinate with Saudi Exchange Co. (Tadawul) to set the listing date on Nomu. Excess subscription amounts will be refunded to subscribers on Sunday. Oct. 31.

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