Molan Steel’s IPO price range set between SAR 18-24/ share on Nomu

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Yaqeen Capital Co., the financial advisor and lead manager on the potential initial public offering (IPO) of Molan Steel Co. on Nomu-Parallel Market, said that the offering price range was set between SAR 18 and 24 per share. 

 

The book-building process will run from Nov. 20-22, Yaqeen Capital said in a statement to Tadawul. 

 

Molan Steel will offer 532,414 ordinary shares, representing 20.02% of its issued capital. 

 

A total of 532,414 ordinary shares, or 100% of the offer size, will be allocated to qualified investors.  

 

Each qualified investor can subscribe to 10 shares minimum and 132,990 shares maximum.

 

The Capital Market Authority (CMA) approved Molan’s application to offer 532,414 shares on Nomu last September, Argaam earlier reported.

 

 

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