NationalSignage Industrial Company (Sign World) Nomu IPO was 108.74% covered, booking orders at an offering price of SAR 12 apiece — set at the lowest of the offering range, the financial advisor Yaqeen Capital said in a Tadawul disclosure yesterday. The company is set to have raised SAR 18 mn in proceeds, giving it a market cap of SAR 90 mn at listing, according to our calculations.

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The details: Sign World is taking a 20% stake — good for 1.5 mn shares — to the parallel market, a primary offering witnessed qualified investors book a minimum of 10 shares and a maximum of c.375k apiece between Sunday, 17 August and Sunday, 24 August. The company secured the Capital Market Authority approval in March.

What’s next? Yaqeen Capital is set to reveal the date of the Nomu listing. Meanwhile, the final allocations are expected to come out today.

ADVISORS- Yaqeen Capital is quarterbacking the transaction as the company’s financial advisor and lead manager. Our friends at EFG Hermes KSA, along with Alinma Capital, Al Rajhi Capital, SNB Capital, BSF Capital, Riyad Capital, Alibilad Capital, AlJazira Capital, Alistithmar Capital, ANB Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, GIB Capital, Musharaka Capital, and Awaed Alosool Capital are all receiving agents.

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