Riyadh – Mubasher: Osool and Bakheet Investment Company set the price for its initial public offering (IPO) on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) at SAR 45 per share.

Amwal Financial Company, the financial advisor of the IPO, indicated that the offering was oversubscribed by 305%, according to a bourse filing.

Osool and Bakheet Investment will float 1.50 million shares, which represent 18.51% of its share capital following the offering process and capital increase.

The allocation of shares to institutional and individual qualified investors has been completed. Meanwhile, the refund process will be implemented no later than 26 October 2023.

Amwal Financial highlighted that it will finalise the required procedures with Saudi Tadawul and announce the date for the listing accordingly.

Last June, the Capital Market Authority (CMA) passed the company’s Nomu listing.