– IPO Pricing and Oversubscription: Yaqeen Capital Company has set the final price for its IPO on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) at SAR 40 per share, with the offering being oversubscribed by 105.07%, reflecting strong investor demand and confidence.

– Offering Details and Strategic Use: The company plans to offer 3 million ordinary shares, representing 20% of its total shares. The raised capital will be utilized to expand Yaqeen Capital’s product offerings, invest in technology, and pursue potential acquisitions, supporting its growth strategy.

– Market Context and Future Steps: The IPO aligns with the Saudi Vision 2030 initiative, promoting economic diversification and financial sector development. Alinma Investment Company, the financial advisor, will finalize regulatory procedures with Tadawul before announcing the listing date, marking a significant milestone for Yaqeen Capital and setting a precedent for other companies in the Nomu market.

Yaqeen Capital Company has set the final price for its initial public offering (IPO) on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) at SAR 40 per share. This significant move marks a notable development in Yaqeen Capital’s growth strategy, reflecting the broader trends in the Saudi financial market and the increasing interest in the Nomu Parallel Market as a platform for raising capital.

Yaqeen Capital Company is a financial services provider in Saudi Arabia, offering a wide range of investment products and services.

The IPO process began with the announcement of the offering, which included a detailed prospectus outlining the company’s financial health, business model, and strategic objectives. The decision to price the shares at SAR 40 each came after a thorough evaluation of market conditions and investor interest. This pricing reflects the company’s valuation and future growth prospects.

Alinma Investment Company, acting as the financial advisor for the IPO, played a crucial role in this process. Their responsibilities included conducting due diligence, marketing the offering to potential investors, and managing the subscription process. According to a disclosure by the Saudi Exchange, the IPO was oversubscribed by 105.07%, indicating strong investor demand and confidence in Yaqeen Capital’s business model.

Yaqeen Capital intends to offer 3 million ordinary shares, representing 20% of its total shares. This significant stake allows the company to raise substantial capital while maintaining a considerable shareholding by existing stakeholders. The funds raised through this offering are expected to be used for various strategic initiatives, including expanding the company’s product offerings, investing in technology, and pursuing potential acquisitions.

The decision to list on the Nomu Parallel Market aligns with the broader objectives of the Saudi Vision 2030 initiative, which aims to diversify the economy and develop the financial sector.

The Nomu market, launched by Tadawul, provides a platform for small and medium-sized enterprises (SMEs) to access capital markets with fewer regulatory requirements compared to the main market. This facilitates easier entry for companies looking to go public and supports the growth of the private sector.

Following the successful subscription period, Alinma Investment Company will finalize the required procedures with Tadawul, the Saudi Exchange. This includes completing regulatory filings, ensuring compliance with listing requirements, and coordinating the logistics of the share offering. Once these steps are completed, the listing date for Yaqeen Capital’s shares will be determined and announced.

The successful IPO of Yaqeen Capital on the Nomu market is expected to have several positive implications. It will provide the company with the necessary capital to fuel its growth ambitions, increase its market visibility, and attract a broader base of investors. Additionally, it sets a precedent for other companies considering a similar path, highlighting the viability of the Nomu market as a valuable platform for capital raising.