Riyadh – Mubasher: Thob Al-Aseel’s initial public offering (IPO) has been subscribed by 150.33% by a total value of SAR 383.3 million.

The number of qualified subscribers reached 204 investors at a value of SAR 3 million at SAR 85 per share, Falcom Financial Services said.

The success of Thob Al-Aseel’s offering is considered a strong addition to the Saudi Nomu-Parallel Market as it is the biggest in terms of volume until now, Falcon’s CEO, Moath Qasem Al Khasawneh, noted.

Al Khasawneh added that this offering will encourage and attract many companies to be listed on Nomu, expecting that it will lead to an increase in the volume and value of the market.