Medical equipment supplier Wajd Life Trading Company’s Nomu IPO was 179.34% covered, financial advisor and bookrunner Yaqeen Capital said in a Tadawul disclosure. Orders were booked at an offering price of SAR 5.70 apiece — the highest of the indicative range — raising SAR 14.3 mn in proceeds and giving it a market cap of SAR 71.3 mn at listing, according to our calculations.

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REFRESHER: Wajd is taking a 20% stake — good for 2.5 mn shares — to the parallel market in a secondary offering. The company secured approval from the Capital Market Authority in March. The proceeds from the offering will be earmarked for financing Wajd’s growth plans, including expanding its footprint, improving its operational efficiency, and bolstering its financials.

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 Derayah Financial, 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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