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IPO Initial Public Offering glowing text,neon word on blurred background. IPO business concept, wallpaper.3D render. Image used for illustrative purpose. Getty Images
Lamasat Company has set its initial public offering (IPO) price range on the Nomu-Parallel Market between SAR 5.25 and SAR 5.75 ($1.40-1.53) per share.
The company is expected to raise between SAR 31.5 million and SAR 34.5 million from the IPO.
The book-building process for qualified investors will run from January 20 to 27, the company said in a statement on the Saudi stock exchange on Wednesday.
The company will list 6 million shares on Nomu, representing 7.41% of the company’s issued share capital after the IPO.
Lamasat has appointed Yaqeen Capital Company as the IPO's financial advisor and lead manager.
(Editing by Seban Scaria seban.scaria@lseg.com)
