‎Retail subscription for Nahdi Medical IPO kicks off today

‎Retail subscription for Nahdi Medical IPO kicks off today

Retail investors will start today, March 13, subscription to about 3.9 million shares of Nahdi Medical Co., representing 10% of the shares offered, at SAR 131 each, as set by the book-building process.

The Capital Market Authority (CMA) approved, in December, an application by Nahdi to offer 39 million shares, or 30% of its share capital, in an initial public offering (IPO).

The retail tranche’s subscription process will run for three days till March 15.

The company’s institutional offering, which ended last week, was 59x covered, with total applications reaching nearly SAR 299 billion.

Nahdi’s IPO will be the sixth on the main market this year, following the IPO of East Pipes Integrated Company for Industry on Jan. 24, Scientific & Medical Equipment House Co. on Jan. 31, Elm Co. on Feb. 3, Al-Dawaa Medical Services Co. (DMSCO) on Feb. 27 and Al Masane Al Kobra Mining Co. (AMAK).

Last year witnessed nine IPOs, including Alkhorayef Water and Power Technologies Co., Theeb Rent a Car Co., Tanmiah Food Co., solutions, International Company for Water and Power Projects (ACWA Power), Arabian Contracting Services Co. (Al Arabia), Nayifat Finance Co., Saudi Tadawul Group, and Almunajem Foods Co.

Company Info

Established in 1986 as a sole proprietorship, Nahdi Medical currently