Logo of Al Wasail Industrial Co.

Alwasail Industrial Co. intends to offer and list 2.5 million ordinary shares, representing 10% of its capital, on the Nomu - Parallel Market, FALCOM Financial Services Co., the financial advisor and lead manager on the potential offering, announced in a statement to the Saudi Exchange (Tadawul).

 

Tadawul approved, on Oct. 24, the company’s application for the listing its shares on Nomu. The Capital Market Authority (CMA) had approved Alwasail’s application for the initial public offering (IPO) on Nomu on Nov. 3.

 

The offering price will be determined after the book-building period, which will run from Dec. 26-30, FALCOM said.

 

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