The price for offering Molan Steel Company’s shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) has been set at SAR 24 per share.
Yaqeen Capital Company, the financial advisor and lead manager for the offering, said the coverage was 1,386.06% of the total shares offered during 20-22 November, the subscription period.
Molan has offered a total of 532,414 ordinary shares, accounting for 20.02% of the share capital, according to a bourse disclosure.
Yaqeen Capital will announce the listing date after completing the required procedures with Tadawul.
Last September, the Saudi Capital Market Authority (CMA) approved for Molan to list and trade its shares on Tadawul.
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