‎Al Razi Medical IPO on Nomu priced between SAR 24-28/share

‎Al Razi Medical IPO on Nomu priced between SAR 24-28/share

Al Razi Medical Co. set the initial public offering (IPO) price range at SAR 24-28 per share, according to TeamOne Co., the financial advisor on the potential offering, said in a statement to Tadawul.

The book-building process for institutional investors will start from June 4-6.

Al Razi announced plans to offer 304,000 shares, or 20% of its SAR 15.2 million, to the public on Nomu, Argaam earlier reported.

The share sale was approved by the Capital Market Authority (CMA) on April 3.

The offering will be confined to qualified investors.

Al Razi Medical is a closed Saudi joint stock company, established as a sole proprietorship in 2006. It is headquartered in Al Badayea city.

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