Al Babtain Food sets price range for Nomu offering

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Saudi Arabia

Al Babtain Food sets price range for Nomu offering

Riyadh - Mubasher: Abdulaziz& Mansour Ibrahim Albabtain Company (Al Babtain Food) set the price of its offering on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) at a range of SAR 68–77 per share.

The Saudi firm plans to list 544,000 ordinary shares on Nomu, accounting for 16% of the issued share capital, according to a bourse disclosure.

Meanwhile, each eligible investor can apply for a minimum number of 10 shares, while the maximum amount has been set as 169,990 shares.

Yaqeen Capital, the financial advisor and lead manager for the potential transaction, earlier noted that the offering period would take place during 25-28 September 2022.

On 15 November 2021, Tadawul greenlighted the company’s request to trade on Nomu, while the Capital Market Authority (CMA) granted its approval last June.

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