{"id":91001,"date":"2024-10-29T00:00:00","date_gmt":"2024-10-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/29\/purity-tech-prices-nomu-ipo-at-top-of-range\/"},"modified":"2024-10-29T00:00:00","modified_gmt":"2024-10-29T00:00:00","slug":"purity-tech-prices-nomu-ipo-at-top-of-range","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/29\/purity-tech-prices-nomu-ipo-at-top-of-range\/","title":{"rendered":"Purity Tech prices Nomu IPO at top of range"},"content":{"rendered":"

Naqawa for Information Technology (Purity Tech) <\/strong>priced its Nomu IPO at the<\/strong> top of its guidance range at SAR 8 per share,<\/strong> according to a disclosure to Tadawul<\/a> from the IPO\u2019s financial advisor and lead manager Yaqeen Capital. The final pricing will see the firm raising SAR 24 mn in IPO proceeds, with a market cap of SAR 120 mn at listing, according to our calculations. The offering was 5.97x oversubscribed, the disclosure read.<\/p>\n

REFRESHER- <\/strong>The Riyadh-based tech company offered a 20% stake<\/a> \u2014 equivalent to 3 mn shares \u2014 to qualified investors for listing on Tadawul\u2019s parallel market during a subscription period that ran between Wednesday, 16 October and Tuesday, 22 October.<\/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

Use of proceeds + lockup:<\/strong> The funds are earmarked for the firm\u2019s expansion. Major shareholders prohibited from selling down their positions for 12 months post-listing.<\/p>\n

ADVISORS-<\/strong> Yaqeen Capital is quarterbacking the transaction as financial advisor and lead manager. Receiving agents include Al Rajhi Capital, Albilad Capital, Riyad Capital, SNB Capital, Alistithmar Capital, Alinma Investment, AlJazira Capital, ANB Capital, SAB Invest, Derayah Financial, BSF Capital, and Alkhabeer Capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

The pricing sees Purity Tech locking in SAR 24 mn in total proceeds<\/p>\n","protected":false},"author":1,"featured_media":91002,"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":[10,29,369,3162,2452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-enterpriseam-ksa","tag-ipo-watch","tag-nomu","tag-purity-tech","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"c416d34c-82bd-4ce7-a6e4-abdf209d5ac0","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1196.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Purity Tech prices Nomu IPO at the top of the guidance range at SAR 8 a piece","related_issue":[90990],"teaser":"The pricing sees Purity Tech locking in SAR 24 mn in total proceeds","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.df1c086b-0bc2-46ec-be09-74ac57d1a3c0.mp3"},"yoast_head":"\nPurity Tech prices Nomu IPO at top of range - 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