{"id":91547,"date":"2024-11-14T00:00:00","date_gmt":"2024-11-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/14\/mufeeds-nomu-ipo-was-5x-oversubscribed\/"},"modified":"2024-11-14T00:00:00","modified_gmt":"2024-11-14T00:00:00","slug":"mufeeds-nomu-ipo-was-5x-oversubscribed","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/14\/mufeeds-nomu-ipo-was-5x-oversubscribed\/","title":{"rendered":"Mufeed\u2019s Nomu IPO was 5x oversubscribed"},"content":{"rendered":"

Riyadh-based event planner Mufeed\u2019s Nomu offering was 5x oversubscribed<\/strong> at SAR 77 <\/strong>per share<\/strong>, according to a filing to Tadawul<\/a> from the offering\u2019s financial advisor and lead manager Value Capital. The final pricing will see Mufeed raise up to SAR 46.2 mn in IPO proceeds, giving the firm a market cap of SAR 508.2 mn at listing, according to EnterpriseAM Saudi calculations. The subscription period for qualified investors wrapped up earlier this week.<\/p>\n

What\u2019s next? <\/strong>The final allocation is set for today, with refunds taking place by Monday, 18 November.<\/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

REFRESHER- <\/strong>Mufeed is taking a 10% stake to Tadawul\u2019s parallel market Nomu<\/a>, with proceeds from the sale going towards hiking the company\u2019s capital to SAR 6.6 mn \u2014 up from a current SAR 6 mn \u2014 after some SAR 2.7 mn are set aside to cover the offering\u2019s costs. Proceeds will also contribute to financing some of the firm\u2019s expansion plans. Meanwhile, none of the proceeds will be distributed to shareholders.<\/p>\n","protected":false},"excerpt":{"rendered":"

The pricing sees the firm locking in SAR 46.2 mn in IPO proceeds<\/p>\n","protected":false},"author":1,"featured_media":91548,"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":[10,29,3246,369],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-enterpriseam-ksa","tag-ipo-watch","tag-mufeed","tag-nomu","wpautop","entry"],"acf":{"mongo_id":"4b214f50-903a-48b6-9445-3a616660fafa","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2412.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Mufeed\u2019s Nomu IPO was 5x oversubscribed, with shares going at SAR 77 a piece","related_issue":[91530],"teaser":"The pricing sees the firm locking in SAR 46.2 mn in IPO proceeds","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.ceca61f7-cd77-4be8-8aa8-edd4563dedef.mp3"},"yoast_head":"\nMufeed\u2019s Nomu IPO was 5x oversubscribed - 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