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ANMAT Tech for Trading Company plans to sell five million shares on Saudi Arabia’s Nomu-Parallel Market.
The float represents 13.16% of shares before the offering and capital increase and 11.63% after the offering and capital increase.
The offering will be available to qualified investors on Nomu, Darb Altujjar Financial Company (Merchants Capital), the financial advisor for the IPO, said in a statement published on the Saudi stock exchange on Monday.
The final price will be determined before the commencement of the subscription period, which runs from May 22 to 27.
The minimum shares subscription is set at 100 and the maximum limit is two million for each subscriber.
The final allocation of shares will be announced on June 1.
ANMAT Tech was established in 2008 in Riyadh as a technology-driven trading enterprise, operating across three core sectors: information and communication technology (ICT), construction and building materials, and industrial solutions.
(Editing by Seban Scaria seban.scaria@lseg.com)
