Saudi Arabian healthcare firm Al-Modawat Specialised Medical Co. is set to list on the stock market next week, the Saudi Stock Exchange (Tadawul) has confirmed.
The company will start trading on the Nomu – Parallel Market on Sunday, February 25, with the symbol 9594 and ISIN Code SA161054LT11.
The company has recently concluded an initial public offering (IPO), where it reported a coverage of 135.75% of the total shares. The offer price was set at SAR 111 ($29.5) per share
Last September, the Capital Market Authority approved Al Modawat’s application to float 475,000 shares, representing 20% of its share capital of SAR 23.75 million, in the parallel market. The coverage ratio reached 135.75% of the total offered shares during the subscription period.
The Securities Depository Center Co. (Edaa) also added the securities subscribed in Al-Modawat Specialized Medical Co. to the accounts of eligible shareholders.
