Amwal says Osool & Bakheet’s IPO procedures completed

29/10/2023 Argaam

Amwal says Osool & Bakheet’s IPO procedures completed

Logo of Osool & Bakheet Investment Co. (OBIC)

Amwal Financial Co., in its capacity as the financial advisor for the initial public offering (IPO) of Osool & Bakheet Investment Co. (OBIC) on the Nomu-Parallel Market, announced the successful completion of the subscription, allocation, refund and transfer of IPO proceeds by the end of Oct. 26, according to the timetable specified in the prospectus.

 

According to a statement on Tadawul, Amwal will finalize the required procedures with the Capital Market Authority (CMA) and Saudi Tadawul Co. to determine the listing date for the company’s shares on Nomu.

 

The IPO was 305% oversubscribed with a minimum of 10 shares allocated per subscriber, as qualified investors subscribed to all shares on offer at SAR 45 at the high end of the price range, according to data available with Argaam. 

 

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