Restaurant operator Al Kuzama Trading Nomu primary offering was 108.4% oversubscribed by qualified investors during the subscription period that wrapped last week, according to a disclosure to the exchange. The company priced its offering at SAR 107 per share, the top of the indicativerange. The offering raised SAR 45.2 mn, giving it a market cap of SAR 422 mn at listing.

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The firm is floating 10.7% of its post-IPO capital. Some SAR 3 mn of the proceeds will be used to cover IPO-related expenses, with the remainder allocated to bolstering the company’s working capital and funding its expansion across the Kingdom over the next three years.

What’s next? Final share allocation is scheduled for today, while the listing date is yet to be confirmed.

ADVISORS- Yaqeen Capital is quarterbacking the transaction as lead manager and financial advisors, with RSM as serving as accountant. Receiving agents include Derayah Financial, Al Rajhi Capital, and SNB Capital, among others.

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