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Zahr Al-Khuzama Aluminum Company (Lavenco) has cancelled its IPO on the Saudi Stock Exchange Parallel Market- Nomu after the close of subscription period.
The company earlier announced it was looking to sell 300,000 new ordinary shares, representing a 25 % stake, for SAR 48 per share, prior to its listing on Nomu.
The subscription for qualified investors was scheduled to run from November 12 to 18, 2025, however, no allocation and results were subsequently disclosed.
On Wednesday, the company confirmed that the IPO did not successfully close, without stating further explanation.
‟The IPO is considered void, and the subscription amounts will be refunded to the subscribers starting the date of this announcement and within two working days at max,” the company said.
(Writing by Cleofe Maceda ; editing by Seban Scaria)
