‎Naqi Water retail subscription starts to 600,000 shares today, marks Tadawul’s 10th IPO in 2022

‎Naqi Water retail subscription starts to 600,000 shares today, marks Tadawul’s 10th IPO in 2022

Retail investors start today, July 27, subscription to 600,000 shares of Naqi Water Co., or 10% of total shares offered, at SAR 69 each, set by the book-building process.

The Capital Market Authority (CMA) approved, on May 25, the application filed by Naqi to float 6 million shares, representing 30% of its capital, in an initial public offering (IPO).

The two-day offering will end tomorrow, July 28.

The institutional offering ended last week and was 30.3x covered.

This will be the 10th listing on the main market this year, after 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. on Feb. 27, Al Masane Al Kobra Mining Co. (AMAK) on March 9, Nahdi Medical Co. on March 13, Saudi Home Loans Co. (SHL) on March 27, Retal Urban Development Co. on June 5 and Alamar Foods Co. on July 20.

Last year witnessed nine listings, including Alkhorayef Water and Power Technologies Co., Theeb Rent a Car Co., Tanmiah Food Co, Arabian Internet and Communications Services Co. (solutions), ACWA Power, Arabian Contracting Services Co., Nayifat Finance Co., Saudi Tadawul Group and Almunajem Foods Co.

Company Profile:

Naqi as established as