Molan Steel IPO 1,386.1% covered on Nomu, final offer price set at SAR 24/share

27/11/2022 Argaam

Molan Steel IPO 1,386.1% covered on Nomu, final offer price set at SAR 24/share

Logo of Molan Steel Co.

Yaqeen Capital, the financial advisor and lead manager for the initial public offering (IPO) of Molan Steel Co. on Nomu-Parallel Market, announced that the subscription was 1,386.06% covered, according to a statement to Tadawul.

 

The company offered 532,410 shares, representing 20.02% of its capital.

 

The final offer price was set at SAR 24 per share, the statement added.

 

Yaqeen Capital will finalize the required procedures with Saudi Tadawul Group Holding Co. (Tadawul Group). It will then determine the listing date.

 

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