Falcom Financial Services Company, in its capacity as the financial advisor and lead manager for the potential offering of Taqaddam International Telecommunication and Information Technology Company “ICTEC” shares in the parallel market “Nomu”, announced the successful completion of the process of building the order book for qualified investors in the company’s shares and setting the final offer price at 110 Saudi riyals per share. .
Falcom Financial Company said in a statement on “Saudi Tadawul”, today, Monday, that the coverage ratio amounted to 19.8 times of the total shares offered during the offering period from Sunday, December 12, 2021, until Thursday, December 16, 2021.
Falcom added that, in its capacity as the financial advisor and IPO manager, it will complete the necessary procedures with the Saudi Tadawul Group “Tadawul”, and then set the date for listing the shares of Taqaddam International for Communications and Information Technology in the parallel market “Nomu”.
It is noteworthy that the price range for offering ICTEC shares was set between 95 and 110 Saudi riyals per share.
The offering process is represented by offering 400,000 ordinary shares of the company’s existing shares “offer shares”, representing 20% of the company’s issued capital, which will be sold by the existing shareholders.
A number of 400,000 ordinary shares representing 100% of qualified investors will be allocated.
