Lana Medical's IPO on Nomu 117.17% oversubscribed

21/11/2023 Argaam

Lana Medical's IPO on Nomu 117.17% oversubscribed

Logo of Lana Medical Co.

Yaqeen Capital Co., the financial advisor and lead manager of Lana Medical Co.'s initial public offering (IPO) on the Nomu-Parallel Market, announced the completion of the 720,000-share offering with a covering ratio of 117.17%.

 

The offering represented 20% of the company's shares after the increase and 24% of its total capital before the increase, according to a statement to Tadawul.

 

The offering price was SAR 31 per share, the statement added.

 

Yaqeen Capital also stated that it will complete the necessary procedures with the Saudi Tadawul Group before determining the listing date for Lana Medical shares on Nomu.

 

On Nov. 12, qualified investors started subscribing to 720,000 shares of Lana Medical, scheduled to be listed on Nomu. The subscription ended on Nov. 16, 2023, according to data available on Argaam.

 

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