Saudi Arabia's Al-Khaldi Logistics to raise up to $13mln from Nomu IPO
Al-Khaldi Logistics Company will raise between 46.2 million and 49.35 million Saudi riyals ($12.32-$13.16 million) from its listing on the kingdom's Nomu Parallel Market.
The offer price has been set between SAR 44 and SAR 47 per share.
The bidding and book-building period will run from May 27 to June 1.
The company is selling 1.05 million shares on Nomu, representing 7% of its post-IPO capital, to qualified investors.
The minimum subscription amount has been fixed at 10 shares and a maximum of 749,990.
Yaqeen Capital has been appointed the financial advisor and lead manager on the offering.
Established in 2008, Al-Khaldi Logistics deals primarily in land freight transportation.
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