Bookbuilding for Quara Finance’s Nomu IPO wrapped up earlier this month with the consumer finance firm setting a share price of SAR 15, its financial advisor Riyad Capital said in a disclosure to Tadawul yesterday.

Demand for the IPO was strong, with orders covering 218% of the offering during the bookbuilding process, which ran from 4-8 February. The BNPL firm received in December the Capital Market Authority’s approval to offer an 8.8% stake in the IPO.

About the issuer: Founded in 2009, Quara is a consumer finance firm that provides financial leasing and alternative financing to SMEs, according to its website.

ADVISORS- Riyad Capital is sole financial advisor and receiving agent alongside Alkhair Capital, and PwC the legal accountant.

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