{"id":87991,"date":"2024-07-21T00:00:00","date_gmt":"2024-07-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/al-ashghal-al-moysras-nomu-ipo-was-4-3x-covered\/"},"modified":"2024-07-21T00:00:00","modified_gmt":"2024-07-21T00:00:00","slug":"al-ashghal-al-moysras-nomu-ipo-was-4-3x-covered","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/21\/al-ashghal-al-moysras-nomu-ipo-was-4-3x-covered\/","title":{"rendered":"Al Ashghal Al Moysra\u2019s Nomu IPO was 4.3x covered"},"content":{"rendered":"

C<\/strong>ontractor Al Ashghal Al <\/strong>Moysr<\/strong>a\u2019s Nomu offering was 4.3x covered<\/strong>, according to a filing to<\/a>Tadawul<\/a>. The company has priced its shares at the<\/a>top<\/a>of the range<\/a> for SAR 50 a piece, which could see it raise up to SAR 24 mn in IPO proceeds, and give it a post-listing market cap of SAR 120 mn, according to our calculations.The subscription period for qualified investors wrapped up last week.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.) <\/p>\n

What\u2019s next?<\/strong> The final allocation of shares is set to take place today.<\/p>\n

REFRESHER- <\/strong>The company is taking a 20% stake<\/a> to market in a secondary offering. Proceeds from the sale will go directly to the selling shareholders after some SAR 3.2 mn are used to cover IPO-related expenses. <\/p>\n

ADVISORS- Yaqeen Capital <\/strong>is serving as the financial advisor and lead manager, while Al Rajhi Capital, Riyad Capital, Alinma Investment, AlJazira Capital, Alawwal Invest, Derayah Financial, Saudi Fransi Capital, SNB Capital, Alistithmar Capital, Albilad Capital, ANB Capital are all receiving agents.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company priced its shares at SAR 50 a piece.<\/p>\n","protected":false},"author":1,"featured_media":87992,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2542],"tags":[2478,2419,10,29,369,2452,655],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-al-ashghal-al-moysra","tag-capital-markets","tag-enterpriseam-ksa","tag-ipo-watch","tag-nomu","tag-tadawul","tag-yaqeen-capital","wpautop","entry"],"acf":{"mongo_id":"59d1f8a8-f2bd-409b-9c7f-4477d6b89c8f","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2412.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Al Ashghal Al Moysra\u2019s Nomu IPO was 4.3x covered","related_issue":[87972],"teaser":"The company priced its shares at SAR 50 a piece.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.2ccb4e27-7499-41af-bacb-53ea4643e523.mp3"},"yoast_head":"\nAl Ashghal Al Moysra\u2019s Nomu IPO was 4.3x covered - 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