‎iOud IPO 1983.63% covered

‎iOud IPO 1983.63% covered

Logo of Intelligent Oud Co. (IOud)

TeamOne Financial Co., the financial advisor on the initial public offering (IPO) of Intelligent Oud Co. (iOud), announced that the subscription was completed, with a coverage ratio of 1983.63%, according to Tadawul website.

A total of 325,000 ordinary shares, representing 20% of the company's capital, were floated.

Qualified investors fully subscribed to the offered shares at SAR 49 each, which is the upper limit of the offer price range.

The allocation of shares to institutional and individual qualified Investors has been completed.

The surplus, if any, will be refunded by Sept. 18, the statement added.

The financial advisor will finalize the required listing procedures with the Saudi Exchange (Tadawul) and then determine the date of listing on the Nomu-Parallel Market.

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