Logo of TAM Development Co.
TAM Development Co. set the initial public offering (IPO) price range between SAR 100-130 per share, according to Yaqeen Capital, the financial advisor, bookrunner, lead manager and underwriter on the potential offering.
The book-building process will be limited to qualified investors from May 21-25, the company said in a statement to Tadawul.
TAM plans to float 585,600 shares, or 16% of its issued capital.
In April, TAM released its prospectus to offer 585,600 shares on Nomu-Parallel Market. Its listing application was approved by the Capital Market Authority in December 2022.
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