Latest news with #ServiceEquipmentCompany
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)
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)
