RIYADH: Advance International Communication and Information Technology’s initial public offering price was set at SR110 ($29.31) per share, according to a bourse filing.
The shares of the company are to be listed on the parallel market Nomu.
FALCOM Financial Services, a financial advisor, is finalizing the book-building process.
The offering was 19.8 times oversubscribed, having offered a sum of 400,000 shares solely to qualified investors, representing 20 percent of the company’s capital.
The listing date has not been disclosed yet.
Source: https://arab.news/mjsd2
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