Riyadh – Mubasher: The initial public offering (IPO) of Al Moammar Information Systems Company has been oversubscribed by 1.1 times at SAR 45 per share.

Slated for launching on 17 March on the Saudi Stock Exchange (Tadawul), the offering will last for five days, according to a bourse statement released on Wednesday. 

Saudi Fransi Capital is the lead manager and the book runner for the IPO.

Al Moammar will offer 4.8 million shares, accounting for 30% of its capital, which is estimated at SAR 160 million.