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Amwal Financial Company Announces the Results of the Initial Public Offering and the Allocation of Shares of Osool & Bakheet Investment Company’s in the Parallel Market “Nomu”
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| Announcement Detail | Amwal Financial Company, being the Financial Advisor for the Initial Public Offering (IPO) of Osool & Bakheet Investment Company in the Parallel Market “Nomu”, announces that the Offering of (1,500,000) ordinary shares representing (25%) of the Company’s shares before the offering and capital increase and representing (18.519%) of the Company’s shares after the Offer and Capital increase to Qualified Investors has successfully concluded. The IPO results are as follows: 1) Offering Price Range: SAR 37-45 per share. 2) Final Offering Price: SAR 45 per share. 3) Number of Offered shares: (1,500,000) ordinary shares, representing (25%) of the Company’s shares before the offering and capital increase and representing (18.519%) of the Company’s shares after the Offer and Capital increase. 4) Coverage at the Final Offering Price: 305% Based on the IPO results, the allocation was based on the following: 1) Allocating 90% of the offered shares to qualified institutional investors and 10% to qualified individual investors. 2) Minimum allocation of 10 shares per subscription. 3) The allocation for each qualified investor in each category was on pro-rata basis. The refund process will be completed by no later than Thursday, 26 October 2023 (corresponding to 11 Rabi’ ll 1445H). Amwal Financial Company will finalize the required procedures with the Saudi Tadawul Company “Saudi Tadawul” and announce the date for listing of the shares in the Parallel Market “Nomu” accordingly. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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