View United’s IPO on Nomu 110.2% oversubscribed

Logo of View United Real Estate Development Co.

Watheeq Capital Co., the financial advisor of View United Real Estate Development Co.’s initial public offering (IPO) on the Nomu-Parallel Market, announced the completion of the 600,000-share offering, which represented 18.18% of the company’s post-IPO capital and 20% of its pre-IPO capital.

The offering price was SAR 70 per share, and the IPO was 110.2% oversubscribed, according to a statement to Tadawul.

Watheeq Capital also stated that it will complete the necessary procedures with the Saudi Tadawul Group before determining the listing date for View United shares on Nomu.

On Nov. 19, qualified investors started subscribing to 600,000 shares of View United, scheduled to be listed on Nomu. The subscription ended on Nov. 27, 2023, according to data available on Argaam.