Riyadh – Mubasher: The initial public offering (IPO) price of Al Wasail Industrial Company has been set at SAR 19 per share, financial advisor Falcom Financial Services announced on Monday.

The offering for listing 2.5 million shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) has been oversubscribed 16.2 times at the end of the subscription period, which took place during 26-30 December 2021.

Last month, Falcom Financial Services, which acts as the lead manager as well for Al Wasil’s IPO, announced the IPO price range between SAR 16 and SAR 19 per share.

Qualified investors were allowed to subscribe to 100% of the offer shares, at a minimum of 10 shares and a maximum of 1.24 million shares.