Fad’s IPO on Nomu over 922% covered; final offer price set at SAR 84/share

12/11/2023 Argaam

Fad’s IPO on Nomu over 922% covered; final offer price set at SAR 84/share

Logo of Fad International Co.

Yaqeen Capital, the financial advisor on the initial public offering (IPO) of Fad International Co. on Nomu-Parallel Market, announced the completion of subscription to 240,000 ordinary shares, representing 20% of capital.

 

The offer was 922.55% oversubscribed during the book-building process that ran from Nov. 1-7, with the final offer price set at SAR 84 per share, according to a Tadawul filing today, Nov. 12.

 

Yaqeen Capital will finalize the required listing procedures with Tadawul and then determine the debut date on Nomu.

 

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