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Emirates NBD Capital marks first transaction on Burgerizzr listing

Emirates NBD Capital marks first transaction on Burgerizzr listing
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Riyadh – Mubasher: Emirates NBD Capital KSA marked the first transaction on listing the shares of Mataam Bayt AlShatira Lilwajbat Alsariya Company (Burgerizzr), which began trading on the Saudi Exchange’s (Tadawul) Parallel Market (Nomu) on 8 September.

Emirates NBD Capital, the investment banking arm of Emirates NBD, acted as the sole Financial Advisor and Lead Manager for the company’s initial public offering (IPO), according to a press release on Thursday.

The IPO was oversubscribed by 500% on the first day of subscriptions and eventually ended at over 6,000% at the end of the book building process.

A total of 725,000 ordinary shares, representing 29% of Burgerizzr’s total shares, were fully subscribed at the top end of the price range at SAR 165 per share. The stock price was up 30% on first day of trading.

CEO of Emirates NBD Capital, Mohammad Al Bastaki, said: “The Nomu listing is a focal point for small and medium-sized enterprises that want to improve brand awareness to raise capital and increase awareness among existing and new investors.”

Nomu is a parallel equity market for small and medium-sized enterprises (SMEs) in Saudi Arabia which aims to increase the number of listed companies in the Kingdom.