Riyadh - Naqi Water Company has set the final price of its initial public offering (IPO) on the Main Market of the Saudi Exchange (Tadawul) at SAR 69 per share.

Al Jazira Capital, the financial advisor and lead manager for the IPO, noted that the book-building process for the participating parties' tranche was oversubscribed 30.3 times, according to a bourse filing.

Meanwhile, the subscription period for individual investors will take place during 27-28 July. The firm will offer a maximum of 600,000 shares, representing 10% of the total IPO shares, to individual investors.

Last June, Naqi Water announced its intention to list 6 million ordinary shares, accounting for 30% of its share capital, on Tadawul.

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