Riyadh – Ladun Investment Company has set the final price for its initial public offering (IPO) at SAR 18 per share to list its ordinary shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).
Yaqeen Capital, the lead manager and financial advisor for the IPO, pointed out that the offering was oversubscribed 20.97 times, according to a recent bourse disclosure.
The Saudi company will offer 5 million ordinary shares, representing 10% of the issued share capital, to the individual investor tranche whose subscription process was held on 22-26 May.
It is worth mentioning that in October 2021, Tadawul gave its green light to the firm’s request to list its shares on Nomu, while the Capital Market Authority (CMA) granted its approval in March 2022.
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