Latest news with #ServiceEquipment
Zawya
22-04-2025
- Business
- Zawya
Service Equipment's Saudi IPO 147% oversubscribed
Service Equipment Company's initial public offering (IPO) has been oversubscribed by 147.02% ahead of its listing on the Saudi Stock Exchange (Tadawul) Parallel Market Nomu. The company floated 720,000 ordinary shares, representing a 30% stake, with the final offer price set at SAR84 ($22.4) per share, at the top of the previously announced range of SAR 80 to SAR 84. The book-building period ran from April 13 to April 17, 2025. Service Equipment obtained the approval to launch the share offering last December. The company's financial advisor, Yaqeen Capital, will determine the date for listing of Service Equipment's shares on Nomu after completing the required procedures. The Jeddah-headquartered firm specialises in providing garage equipment for automotive businesses. (Writing by Cleofe Maceda; editing by Seban Scaria)
Argaam
21-04-2025
- Business
- Argaam
Service Equipment's Nomu IPO 147% covered, price set at SAR 84/share
Service Equipment Co. closed its initial public offering (IPO) for 720,000 ordinary shares, or 30% of its capital. The IPO price was set at SAR 84 per share, Yaqeen Capital Co., the financial advisor and lead manager, said. In a statement on Tadawul, Yaqeen Capital said the offering was 147.02% covered during the subscription period starting April 13 until April 17, 2025. The brokerage will finalize the necessary procedures with the Saudi Exchange (Tadawul) and then announce the listing date for Service Equipment's shares on Nomu, the statement added. According to data available with Argaam, Service Equipment offered 720,000 shares for qualified investors, with a price range of SAR 80 -84 per share. These shares represent 30% of its SAR 24 million capital, divided into 2.4 million share at a par value of SAR 10 per share.
Zawya
10-04-2025
- Business
- Zawya
Saudi's Service Equipment Co. sets IPO offer price range
Saudi Arabia's Service Equipment Co., which is selling 30% of its issued share capital in an IPO, has set the offer price range at between 80 and 84 Saudi riyals ($21.33 and $22.40) per share. The book-building period for qualified investors commences on 13 April and ends on 17 April, Yaqeen Capital, the lead manager to the issuance said on the Tadawul exchange. In December 2024, the Saudi Exchange approved Service Equipment's application to launch an IPO. The share offering will be limited to qualified investors. Following the share sale the stock will be listed on the Parallel Market Nomu. Headquartered in Jeddah, the company specialises in providing supplies, including maintenance equipment and accessories, to automotive garages/ workshops and fuel stations. Service Equipment was established in 1980 with a paid-in capital of SAR 24 million ($6.4 million). (Writing by Brinda Darasha; editing by Seban Scaria)
Zawya
19-03-2025
- Business
- Zawya
Saudi's Service Equipment to proceed with 30% IPO in April
Saudi Arabia's Service Equipment Company will proceed with its 30% initial public offering (IPO) and listing of shares on the Parallel Market Nomu. The company will offer 720,000 ordinary shares from April 13 to 17, 2024, according to its financial advisor, Yaqeen Capital, on Tuesday. Last December 2024, the Saudi Exchange approved Service Equipment's application to launch an IPO. The share offering will be limited to qualified investors. Headquartered in Jeddah, the company specialises in providing supplies, including maintenance equipment and accessories, to automotive garages/ workshops and fuel stations. Service Equipment was established in 1980 with a paid-in capital of SAR 24 million ($6.4 million). (Writing by Cleofe Maceda; editing by Seban Scaria)
