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Asas Makeen Real Estate Development and Investment Company (Asas Makeen) will raise 80 million Saudi riyals ($21.32 million) from its listing on the Nomu Parallel Market.
The offering price has been set at SAR 80 per share.
The company is selling one million shares, representing 10% of its capital post-IPO, to qualified investors.
The minimum subscription amount has been fixed at 10 shares and a maximum of 499,990 shares.
The bidding and book-building period will start on May 19 and end on May 25.
Yaqeen Capital has been appointed as the financial advisor and lead manager on the offering.
Asas Makeen is into real estate development, with projects ranging from luxury apartments and villas to townhouses.
(Editing by Bindu Rai)
