Al-Khaldi Logistics Company will raise between 46.2 million and 49.35 million Saudi riyals ($12.32-$13.16 million) from its listing on the kingdom’s Nomu Parallel Market.

The offer price has been set between SAR 44 and SAR 47 per share.

The bidding and book-building period will run from May 27 to June 1.

The company is selling 1.05 million shares on Nomu, representing 7% of its post-IPO capital, to qualified investors.

The minimum subscription amount has been fixed at 10 shares and a maximum of 749,990.

Yaqeen Capital has been appointed the financial advisor and lead manager on the offering.

Established in 2008, Al-Khaldi Logistics deals primarily in land freight transportation.

(Edited by Bindu Rai, bindu.rai@lseg.com)