‎Retail investors begin subscription to Tibbiyah’s 1 mln shares today

‎Retail investors begin subscription to Tibbiyah’s 1 mln shares today

Qualified retail investors will begin today, Feb. 15, subscription to one million shares of Arabian International Healthcare Holding Co. (Tibbiyah), representing 20% of the total offered shares of five million shares, which will be listed on Nomu Parallel Market at SAR 82 each.

The subscription period for retail investors will run for three days until Feb. 17.

Tibbiyah's IPO will be the fourth on Nomu this year, following the IPO of Al-Jouf Mineral Water Bottling Co. in February, Gas Arabian Services on Jan. 23, and Raoom Trading Co. on Jan. 30, 2022.

The Capital Market Authority (CMA) approved, on Dec. 29, 2021, the application received from the company to offer 25% of its capital on Nomu.

The company announced last week it successfully completed the book building process, with 34.8x subscription coverage by qualified non-individual investors.

Qualified investors include the capital market institutions authorized to act on their own account; clients of a licensed capital market institution; the Saudi government, any governmental body, any international entity approved by CMA or the Saudi market, or any other financial market recognized by CMA or the Securities Depository Center (Edaa); companies that are owned by the government, directly or through private portfolio manager; companies and funds established in