Al Kuzama IPO on Nomu 108.4% covered
In a statement on Tadawul today, May 26, the brokerage said the offering was 108.38% oversubscribed during the subscription period from May 18-22, at SAR 107 a share.
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Yaqeen Capital will finalize the required procedures with Tadawul, before determining Al Kuzama's debut date.
According to Argaam 's data, Al Kuzama earlier announced floating 422,400 shares on Nomu, at a nominal value of SAR 10 each.
These shares represent 12% of the company's pre-IPO capital,
They make up 10.71% of the post-IPO capital.
The company was established in 2013 in Riyadh as a sole proprietorship. It later converted into a limited liability company, and then into a joint stock company in 2021. Al Khuzama's core business includes operating premium restaurants and beverage outlets, as well as organizing upscale events.
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