Saudi’s TAM Development opens IPO subscription on Nomu-Parallel Market

Saudi’s TAM Development opens IPO subscription on Nomu-Parallel Market

Saudi Arabia’s opened the subscription for its initial public offering (IPO) on the Nomu-Parallel Market on May 21. The price range has been set between SAR100 and SAR130 per share. The subscription period will run for five days until May 25 for qualified investors only, and the final allocation of the offer shares will take place on May 30. The book-building process for qualified investors will be led by Yaqeen Capital, and 16 per cent of the total issued share capital of TAM (equivalent to a total of 585,600 shares) will be made available under the IPO, which was approved by the Capital Market Authority (CMA) on December 29, 2022 TAM Development Co is a Saudi company offering a unique model that integrates digital solutions and advisory services, partnering with its clients to lead public impact. TAM delivers effective, efficient, and sustainable services by leveraging the latest technologies. Its in-house and extended partners are equipped to design digital solutions that complement its advisory practice. TAM Development Co has witnessed strong growth for more than 10 years under the leadership of Abdullah A Yousef, founder and CEO. It has evolved from a digital solutions company to one that incorporates advisory services.